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Average yield hits 10.54% at Egypt central bank auction

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 16 February 2009
EGYPT DEPOSITS: Demand falls short at central bank auction. (Getty Images)
EGYPT DEPOSITS: Demand falls short at central bank auction. (Getty Images)

The weighted average yield for 9-day deposits was 10.54% on Sunday, while the yield for 10-day deposits was 10.544 percent, Egypt's central bank said.

The bank had asked for 16 billion Egyptian pounds ($2.875 billion) in 9-day deposits and received bids worth 13.975 billion pounds.

It accepted bids worth 11.625 billion pounds at rates between 10.52 percent and 10.58 percent.

At the auction for 10-day deposits, the bank had asked for bids worth 10 billion pounds and received bids worth 12.3 billion pounds.

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It accepted bids worth 9.3 billion pounds at rates between 10.53 percent and 10.58 percent. (Reuters)

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