Egypt to auction $1b Treasury bills

Egypt will auction $1 billion worth of one-year dollardenominated treasury bills next Monday, the central bank said in a statement yesterday.

The auction will be settled on Tuesday.

One-year Treasury bills worth about $1.15 billion are due to mature on the same day.

The average yield on those bills was 3.495 per cent.

In the last dollar-denominated treasury bill auction, on November 19, the average yield was 3.697 per cent. (Reuters)