Egypt sells more 182-day T-bills than offered

Egypt's central bank sold more 182-day treasury bills than originally offered at an auction on Thursday, but trimmed the amount of 357-day T-bills it sold, the bank said.

It sold 4.872 billion Egyptian pounds ($807.4 million) in domestic treasury bills, paring 628m pounds from the amount it had offered, the bank said.

It sold 2.527bn pounds of 182-day T-bills on behalf of the ministry instead of the 2bn pounds it had offered. The average yield rose to 14.758 per cent from 14.751 per cent at last week's auction.

It also sold 2.345bn pounds of 357-day T-bills, instead of the 3.5bn pounds it had offered, as the average yield rose to 15.471 per cent from 15.226 per cent at the last issue on December 20.