CAIRO:
CAIRO: The average yield on Egyptian 91-day Treasury bills rose to 9.031 percent at an auction on Sunday from 8.681 percent at the last auction on Nov. 21, the central bank said.
The bank had invited bids for bills worth LE 1.5 billion ($259 million), but accepted bids worth only LE 500 million.
The rates of those accepted ranged from 8.801 percent to 9.098 percent versus a range of 8.549-8.742 percent at the previous auction.
The bills, for issue on Dec. 7, mature on Mar. 8, 2011.
On the same day, the average yield on Egyptian 182-day Treasury bills rose a little to 9.891 percent at an auction from 9.808 percent at last week’s auction, the Central Bank of Egypt said.
The central bank asked for bids worth LE 2 billion ($346 million), but accepted LE 1.5 billion.
It accepted bids at rates of between 9.701 and 9.95 percent versus 9.501-9.86 percent at the previous auction. The bills are for issue on Dec. 7 and mature on June 7, 2011.
