Egyptian deposit rates ease following auction

Yields on 7-day deposits have eased following the Egyptian central bank's latest auction.
Egyptian deposit rates ease following auction
By Mohamed Samir
Tue 27 Jan 2009 09:11 PM

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.

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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