Central Bank of Egypt Raises $1.61 Billion Through T-bill Auction

The Central Bank of Egypt (CBE) successfully conducted an auction of treasury bills (T-bills) amounting to a total of EGP 80 billion, equivalent to $1.61 billion. This auction was divided into two tranches. On July 10, 2023, the first tranche offered EGP 35 billion worth of T-bills, which will mature in 182 days on January 13, 2026. The second tranche, also worth EGP 35 billion, comes with a maturity of 364 days until July 14, 2026. This recent activity adds to the CBE's issuance of T-bills and T-bonds aggregating EGP 106 billion on July 6, along with debt instruments valued at EGP 75 billion on July 7, 2023. This series of issues reflects the CBE's strategy to manage liquidity and fulfill funding needs sustainably, demonstrating its continued efforts to stabilize Egypt's economic environment.