CAIRO: Egypt’s central bank said it will ask for LE 7 billion ($1.17 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 3 billion and accepted 650 million, the whole amount that was offered.
