Egypt's Qalaa Holdings Q1 revenues climb 134%, winning over global challenges    Egypt introduces first beach for visually-impaired guests in Alexandria    Egypt's athlete Basma Emad wins bronze in weightlifting in Mediterranean Games    Gold prices in Egypt on July 3    Egypt: Ever Art crosses Suez Canal on its first voyage    Saudi citizens could enter Schengen countries visa-free    Egypt's Petrojet returns to Libyan oil sector after 11 years    Cemex, VeryNile sign deal for Egypt's Nile River    NATO remarks Egypt's role in maintaining stability in Middle East and Africa    Congo needs Egypt's expertise to diversify its economy – FPI official    Dostarlimab drug cures rectal cancer patient 100%, trials show    Egypt: A royal train turns into a new tourism attraction    For the first time John Legend to perform in Egypt    Egypt discovers newly treasure trove of ancient artifacts at Saqqara Necropolis    Noura Al-Mutair – first Gulf female boxer in World Championships    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Egypt to play key role in integrating water, climate issues globally – World Bank official    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

CBE receives 33 bids worth $1.037bn for T-bills issuance denominated in US currency
Published in Daily News Egypt on 04 - 01 - 2022

The Central Bank of Egypt (CBE) received 33 bids from local and foreign investors worth $1.0379bn to cover the recent tender of treasury bills (T-bills) denominated in the US currency.
The CBE put out this tender on Monday at a value of $850m for a period of 364 days, due on 3 January 2023.
The proceeds of this tender are intended to pay the maturity of a previous tender that the CBE launched on January 4, 2021, from which $861.1m were withdrawn.
Of those offers, the CBE accepted 27 offers worth $852.9m, with interest rates ranging between 2.97 – 3%. The bank rejected offers in which the required interest rate of 4%.
The CBE allows subscription to these bills for each of the local banks and foreign institutions, with a minimum subscription of $100,000 and its multiples.
Banks subscribe to dollar treasury bills in the same manner as local currency bills. Each bank submits its bid to the CBE, indicating the amount to be subscribed to in the bills and the interest rate it requests. Bids are then collected and decided upon by the CBE.
Banks operating in the local market rely a lot on these bills to invest their dollar liquidity in a vessel guaranteed by the government with an appropriate return in the absence of other investment aspects for that liquidity. Other options include rare joint loans that are offered on intervals or investing in global money markets.
The return of these T-bills is determined by several indicators, the most important of which are the volume of dollar liquidity in the market, the alternative investment opportunities available to local and foreign banks and financial institutions, and the country's credit rating.

Clic here to read the story from its source.