The Egyptian central bank on behalf of the Finance Ministry auctioned EGP 5bn ( USD 718mn ) worth of three-month and six-month T-bills that lured nearly EGP 13.1bn in offers signalling better investor sentiment, the CBE said in a statement. The successful constitutional referendum and the looming political stability paving the way for the upcoming elections will likely help boost investor sentiment in the near to medium term. The CBE sold a EGP 2bn tranche in 91-day T-bills that lured EGP 4.25bn in offers and earned a weighted average rate of 10.377%. Another EGP 3bn tranche in 273-day papers lured EGP 8.76bn in deposits and yielded an average coupon of 10.829%. The finance ministry plans to sell EGP 64bn worth of demotic debt in January, EGP 70bn in February and EGP 69bn in March.
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