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The Egyptian Ministry of Finance failed to sell T-bills worth EGP 3 billion today as banks demand higher returns. CBE also canceled an auction on T-bills worth EGP 6 billion last week.
The Ministry sold 273-day T-bills worth EGP one billion, while it targeted to sell T-bills worth EGP 4 billion.
273-day T-bills are offered at an average rate of 13.7%. Yields on T-bills ranged from 13.2% to 13.91%.
