Yara El-Genainy_ The Central Bank of Egypt, acting on behalf of the Ministry of Finance, accepted total liquidity of EGP 84.773 billion in today's, Sunday, treasury bills auctions for 91 and 273 days, compared to a targeted amount of EGP 105 billion.
The total value of submitted bids amounted to approximately EGP 210.472 billion, distributed as EGP 85.9 billion for the 91-day tenor and EGP 124.572 billion for the 273-day tenor.
In the 91-day treasury bills auction, the Ministry of Finance requested EGP 45 billion, and accepted EGP 46.786 billion through 2,242 bids, at a weighted average yield of 23.96%, compared to 23.83% in the previous offering, an increase of 13 basis points.
The yield on accepted bids ranged between 22.99% and 24.1%, while the weighted average yield on submitted bids reached 24.75%, ranging between 22.99% and 30%.
In the 273-day treasury bills auction, the Central Bank requested EGP 60 billion, and accepted EGP 37.987 billion through 313 bids, at a weighted average yield of 25.38%, compared to 25.35% in the previous offering, an increase of 3 basis points.
The yield on accepted bids ranged between 25% and 25.43%, while the weighted average yield on submitted bids reached 25.73%, ranging between 25% and 28%.
Consequently, the total accepted bids were lower than the target in both auctions by approximately EGP 20.227 billion, while the total submitted bids amounted to EGP 210.472 billion.
