CBE to Raise T-bills worth EGP5.5 bln Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 91- and 273-day treasury bills worth EGP 5.5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP 2 billion, whereas the second offering; the 273-day amounts to EGP 3.5 billion.

This comes in accordance with the Egyptian Finance Ministry’s plan to offer EGP 63 billion within the month, compared to EGP 67.5 billion raised for last October.

This comes as the Egyptian government is targeting the provision of EGP 206.5 billion in the local market within the second quarter of the current fiscal year of 2013/2014 through issuing treasury bills and bonds.