CBE sells fixed-yield treasury bonds worth EGP 26.617 billion.

Al MAl-


The Central Bank of Egypt (CBE) sold fixed-yield treasury bonds worth approximately EGP 26.6176 billion during today's auction, according to data published on the CBE's website. For fixed-yield bonds, banks and institutions submitted 17 bids worth EGP 6.736 billion for five-year terms, requesting a weighted average return of approximately 22.371%. Ten bids worth EGP 3.861 billion for two-year terms, requesting a weighted average return of approximately 24.559%. Finally, 17 bids for three-year terms, worth EGP 36.828 billion, with a weighted average return of 22.597%. Regarding fixed-yield bonds, approximately five bids were accepted, totaling EGP 240.7 million for a five-year term, with a weighted average return of approximately 19.48%. Five bids were accepted, totaling EGP 26.275 billion, with a weighted average return of approximately 22.11% for a three-year term. Finally, two bids were accepted, totaling EGP 101.9 million, with a weighted average return of approximately 22.70%.
Treasury bonds are legally negotiable instruments issued by companies or governments. They serve as a loan for a specified term, whether long, short, or medium, ranging from two to 20 years. The Ministry of Finance authorizes the Central Bank, throughout the fiscal year, to manage its own offerings of treasury bills and bonds in Egyptian pounds, with the proceeds to be financed and spent on the state budget for the current fiscal year.
The Monetary Policy Committee of the Central Bank of Egypt (CBE), at its last meeting, decided to reduce key interest rates by 100 basis points, bringing the overnight deposit and lending rates, and the rate of the central bank's main operation, to 24%, 25%, and 24.5%, respectively. It also decided to reduce the credit and discount rates by 100 basis points to 24.5%.