Egypt sells 640 mln euros in T-bills, more than offered

CAIRO, Nov 19 (Reuters) - Egypt sold 640.2 million euros

($813.4 million) in 1-year euro-denominated treasury bills at an

auction on Monday, far more than it had aimed to sell, the

central bank said.

The T-bills sold had a weighted average yield of 2.548

percent, with a minimum accepted yield of 2.18 percent and a

maximum accepted yield of 2.59 percent.

The Finance Ministry had initially offered bills worth 400

million euros.

"Due to increased appetite by local and foreign financial

institutions (the) Ministry of Finance accepted EUR 640.2

million," the central bank said in a emailed statement.

($1 = 0.7871 euros)

(Reporting by Patrick Werr; Editing by Susan Fenton)

Most Popular in Business