July 10, 2017 / 10:48 AM / 12 days ago

Foreign contribution in Egypt's 3- and 7- year T-bond sale at $30.5 mln -finance ministry official

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CAIRO, July 10 (Reuters) - Foreign participation in Egypt's three-year and seven-year treasury bond sale on Monday reached 545 million Egyptian pounds ($30.53 million), the head of public debt at the Finance Ministry, Sami Khallaf told Reuters.

Khallaf said the amount made up 31 percent of the total issuance.

The foreign buy-in comes days after Egypt's central bank hiked key interest rates 200 basis points in a bid to clamp down on soaring inflation, a move that helped push up treasury bill rates. ($1 = 17.8500 Egyptian pounds) (Reporting by Ehab Faruok and Eric Knecht)

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