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Yields rise at Egypt T-bill auction Despite rising average yields, Egypt's central bank fails to unload LE5 billion in T-bills offered at Thursday auction
Average yields on Egyptian treasury bills inched up at an auction on Thursday and the central bank sold fewer than the LE5 billion ($826.92 million) of bills it had offered, the Central Bank of Egypt (CBE) said. It sold LE1 billion of six-month bills, half the amount it had offered. The average yield was 15.007 per cent, up from 14.895 per cent at an auction last week. The average yield on the one-year T-bills was 15.748 per cent, up from 15.554 at the last issue on 24April. It sold only LE2 billion of those bills instead of the LE3 billion it had offered. The central bank sells the bills on behalf of the ministry.