By Mohamed Samir
91-day treasury bill auction set for March 24 cancelled; no reason given by Finance Ministry.
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.
Bills worth 4 billion pounds and 21.835 billion pounds in central bank deposits are due to mature on March 24. (Reuters)For all the latest banking and finance 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.