CAIRO: Egypt’s central bank accepted LE 10.399 billion ($1.731 billion) in seven-day repurchase agreements in the money market on Tuesday, the entire amount it was offered.
The bank had asked for LE 11 billion. The repos carry a fixed rate of 9.75 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.
