Home MoneyBanks Egypt Central Bank Accepts Repurchase Agreements Worth LE 10 Bln

Egypt Central Bank Accepts Repurchase Agreements Worth LE 10 Bln

by Amwal Al Ghad English

Egypt’s central bank accepted LE10.0 billion ($1.6 bn), slightly lower than the 10.6 billion it had offered, in seven-day repurchase agreements on Tuesday.

The repos carry a fixed rate of 9.75 per cent.

The central bank introduced weekly repo offerings in March 2011 to manage short-term interest rates during the political and economic unrest in the wake of the toppling of President Hosni Mubarak.

Ahram

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