CAIRO - 2 December 2024: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, will issue foreign currency-denominated treasury bills worth $900 million on Monday, Dec. 2.
These bills, with a maturity of 364 days, are scheduled to mature on December 2, 2025, according to the bank’s website.
The proceeds from this auction will be directed to settle a previous auction issued on December 5, 2023, through which the CBE raised $990 million.
Treasury bills (T-bills) are short-term government debt instruments offered by the Ministry of Finance with maturities of 91, 182, 273, and 364 days.
On November 11, the CBE sold $1.574 billion in foreign currency-denominated treasury bills after accepting bids from 21 institutions at an average yield of 4.498 percent.
Additionally, the Monetary Policy Committee (MPC) of the Central Bank, during its meeting on November 21, 2024, decided to maintain the overnight deposit, lending, and main operation rates at 27.25 percent, 28.25 percent, and 27.75 percent, respectively.
The credit and discount rate was also kept at 27.75 percent, reflecting both global and domestic economic developments since the committee’s previous meeting.
The CBE regularly offers treasury bills and bonds in local and foreign currencies on behalf of the Ministry of Finance to help finance the state budget deficit.
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