Egypt cbank to offer LE 8 in repos Tuesday

DNE
DNE
1 Min Read

CAIRO: Egypt’s central bank said it will offer LE 8 billion ($1.345 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 seven-day repo agreements on March 22 to keep short-term interest rates under control after a popular uprising ousted president Hosni Mubarak.

Last week it offered repos worth LE 6 billion and accepted repos for the same amount it had asked for.

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