CAIRO: Egypt’s central bank said it will ask for LE 9 billion ($1.5 billion) in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 percent.
The central bank introduced the weekly repo agreements in March to keep short-term interest rates under control after a popular uprising ousted president Hosni Mubarak.
Last week it asked for repos worth LE 10 billion and accepted LE 8.384 billion the whole amount that was offered.
