Egypt central bank accepts repos worth LE 6 bln

CAIRO: Egypt’s central bank accepted LE 6 billion ($1.01 billion) in seven-day repurchase agreements in the money market on Tuesday, the same amount it had offered.

The repos carry a fixed rate of 9.25 percent.

The central bank introduced its weekly repo offerings on April 5 to keep short-term interest rates under control after the political and economic unrest that ousted president Hosni Mubarak on Feb. 11.

 

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