Egyptian deposit rates ease following auction

by Mohamed Samir Tuesday, 27 January 2009

The weighted average yield at a 7-day deposit auction on Tuesday was 11.565 percent, compared with 11.566 percent at last week's auction, Egypt's central bank said.

The bank had asked for 18 billion Egyptian pounds ($3.236 billion) and received bids for deposits worth 26.415 billion pounds.

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It accepted bids worth 20.49 billion pounds at rates between 11.55 percent and 11.57 percent, compared with 11.55 percent and 11.58 percent at the previous auction. (Reuters)



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