Egyptian 7-day deposit yields ease

by Martin Morris Tuesday, 03 February 2009

The weighted average yield at a 7-day deposit auction on Tuesday was 11.552 percent, compared with 11.565 percent at last week's auction, Egypt's central bank said.

The bank had asked for 16 billion Egyptian pounds ($2.878 billion) and received bids for deposits worth 19.8 billion pounds.

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It accepted bids worth 19.5 billion pounds at rates between 11.53 percent and 11.57 percent, compared with 11.55 percent and 11.57 percent at the previous auction.



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