Average yield hits 10.54% at Egypt central bank auction

Bidding falls short for Egypt 9-day deposits at central bank auction on Sunday.
Average yield hits 10.54% at Egypt central bank auction
By Mohamed Samir
Mon 16 Feb 2009 01:01 AM

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.

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

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.