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Average yields rise on Egyptian six-month and one-year T-bills
May 11, 2017 / 1:23 PM / 7 months ago

Average yields rise on Egyptian six-month and one-year T-bills

CAIRO, May 11 (Reuters) - Average yields on Egypt’s six-month and one-year treasury bills rose at auction on Thursday, data from the central bank showed.

The average yield on the 182-day bills rose to 19.417 percent from 19.272 percent at the previous auction.

The yield on the 364-day bills increased to 19.307 percent from 19.050 percent previously.

Foreigners have been buying into Egyptian government debt, lured by high yields after the central bank floated the Egyptian pound in November.

Samy Khallaf, head of public debt at Egypt’s Finance Ministry, said foreign investors held Egyptian government securities totalling 103.6 billion Egyptian pounds as of May 9.

The figure rose from 91.8 billion pounds as of April 25. (Reporting by Nadine Awadalla, editing by Pritha Sarkar)

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