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Monday, 09 November 2009 01:38 UAE time

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Egypt cancels bill auction

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 22 March 2009
AUCTION CANCELLED: Egyptian central bank cancels bill auction. No reason given. (Getty Images)
AUCTION CANCELLED: Egyptian central bank cancels bill auction. No reason given. (Getty Images)

Egypt's central bank has cancelled a 91-day treasury bill auction planned for March 24, it said on Sunday.

The bank auctions the instruments on behalf of Egypt's Finance Ministry, which was offering 91-day T-bills worth 1 billion Egyptian pounds ($177.64 million).

The central bank gave no reason for the cancellation.

The average yield on 91-day T-bills at the previous auction on March 15 was 10.518 percent.

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Bills worth 4 billion pounds and 21.835 billion pounds in central bank deposits are due to mature on March 24. (Reuters)

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