CAIRO: Egypt’s central bank accepted LE 9.814 billion ($1.64 billion) in eight-day repurchase agreements in the money market (CBES) on Tuesday, the entire amount which was offered. The bank had asked for LE 13 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.
