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Tue 3 Feb 2009 09:08 PM

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Egyptian 7-day deposit yields ease

Average weighted short term deposit yield slips at latest Egyptian central bank sponsored auction.

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.

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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