CAIRO: Egypt’s central bank accepted LE 1.253 billion ($210 million), the whole amount that was offered, in seven-day repurchase agreements in the money market (CBES) on Tuesday. The bank had asked for LE 3 billion.
The repos carry a fixed rate of 9.25 percent.
The central bank introduced its weekly repo offerings on March 20 to keep short-term interest rates under control after the political and economic unrest that ousted President Hosni Mubarak on Feb. 11.
