Egypt central bank hopes to raise LE6 billion in short-term capital on Tuesday

Bank releases another batch of seven-day repurchase agreements in a bid to keep short-term interest rates under control

Egypt's central bank said it will offer 6 billion Egyptian pounds (US$1.007 billion) in seven-day repurchase agreements in the money market on Tuesday at a fixed rate of 9.25 per cent CBES.
The central bank introduced the weekly seven-day repo agreements in March to keep short-term interest rates under control after a popular uprising ousted President Hosni Mubarak.
Last week it offered repos worth LE20 billion pounds but accepted only LE16.684 billion pounds.