CAIRO: Egypt's central bank accepted LE 12 billion ($1.99 billion) in seven-day repurchase agreements in the money market on Tuesday, the same amount it had offered. The commercial banks had sought repos worth LE 13.466 billion. The repos carry a fixed rate of 9.75 percent. The central bank introduced its weekly repo offerings last March to manage short-term interest rates after the political and economic unrest that ousted President Hosni Mubarak.
