Average yields fall on Egypt's five- and 10-year T-bonds

CAIRO- 14 August 2017: Average yields on Egypt's five- and 10-year treasury bonds fell at an auction on Monday, central bank data showed.

The average yield on the five-year bonds fell to 17.001 percent from 17.800 percent at the last similar auction on July 31. The yield on the ten-year bonds fell to 17.130 percent from 17.798 percent.

Appetite for Egypt's domestic debt has increased since November when the central bank floated the pound currency as part of a $12 billion International Monetary Fund programme aimed at boosting the economy.

The central bank has raised interest rates by 700 basis points since the float.