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Egypt to offer LE 2.5 bln in reopened bonds

By Mohamed Samir / Reuters CAIRO: Egypt’s Ministry of Finance will offer LE 2.5 billion ($414.1 million) in reopened bonds at an auction on April 23, the central bank said on Tuesday. It will offer LE 1.5 billion in reopened five-year bonds maturing on April 10, 2017 with a coupon of 16.55 percent, and LE …

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Egypt sells 3- and 5-year bonds worth LE 3.5 bln

By Reuters CAIRO: Egypt’s central bank said it sold LE 3.5 billion ($579.8 million) in three and five-year bonds on Monday, the same amount it had offered. It sold LE 2 billion in reopened three-year bonds at an average yield of 16.12 percent, with yields ranging from 16.05 to 16.15 percent. The bonds have a …

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Egypt investors shift to longer-term debt: analysts

By Tom Pfeiffer and Patrick Werr / Reuters CAIRO: Growing local appetite for medium-term Egyptian government debt helped push the average yield on three-year bonds lower at an auction on Monday and market watchers said investors were shifting some funds from short-term tenors. Egyptian treasury yields have soared in the past year as foreign investors fled …

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Egypt to offer LE 3.5 bln in bonds

By Mohamed Samir / Reuters CAIRO: Egypt’s Ministry of Finance will offer LE 3.5 billion ($579.6 million) in bonds at an auction on April 9, the central bank said on Monday. It will offer LE 2 billion in reopened three-year bonds maturing on April 3, 2015 with a coupon of 16.15 percent, and LE 1.5 billion …

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Egypt sells 3- 7- and 10-year bonds worth LE 4 bln

By Reuters CAIRO: Egypt’s central bank sold three-year, seven-year and ten-year bonds worth LE 4 billion ($662.4 million) on Monday, the same amount that was offered, the Ministry of Finance said. The three-year bonds, totaling LE 2 billion, mature on April 3, 2015, and have a coupon of 16.15 percent. Yields ranged from 16.10 to …

DNE

Egypt sells more 364-day T-bills than offered

By Mohamed Samir / Reuers CAIRO: The average yield on Egyptian 364-day domestic treasury bills eased at an auction on Thursday, and the central bank sold more than it originally offered. But the yield on 182-day T-bills rose, and the bank sold less than it sought, it said. On the 364-day bills, the average yield fell …

DNE

Egypt to offer LE 4 bln in bonds

By Mohamed Samir / Reuters CAIRO: Egypt’s finance ministry will offer LE 4 billion ($662.66 million) in new bonds at an auction on April 2, the central bank said on Wednesday . It will offer LE 2 billion in three-year bonds maturing on April 3, 2015, LE 1 billion in seven-year bonds maturing on April 3, …

DNE

Yields dip at Egypt bond auction as confidence grows

By Tom Pfeiffer / Reuters CAIRO: Yields edged lower at a sale of Egyptian treasury bonds on Monday, and traders said banks had demanded more than the amount offered due to growing confidence in the country’s democratic transition. Yields have eased at recent auctions although they remain near multi-year highs partly due to the absence of …

DNE

Yield dips at Egypt 266-day T-bill auction

By Reuters CAIRO: The yield on Egyptian treasury bills fell at an auction on Sunday, and the central bank sold the entire LE 3.5 billion ($579.8 million) worth it had asked for, the Ministry of Finance said on its website. This was the central bank’s second auction since it lowered the reserve requirement on local …

DNE

Egypt central bank says holds interest rates, as expected

By Patrick Werr / Reuters CAIRO: Egypt’s central bank kept its overnight deposit and lending rates unchanged on Thursday, in line with expectations after inflation increased only mildly in February and following a cut in the reserve requirement on deposits to help spur growth. The bank’s Monetary Policy Committee kept its benchmark lending rate steady at …

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Egypt T-bills yields dip after new central bank policy

By Mohamed Samir / Reuters CAIRO: The average yield on Egyptian treasury bills dipped on Thursday at the central bank’s first auction since it lowered the reserve requirement on local currency deposits to 12 percent from 14 percent. The central bank said it sold all the T-bills it was offering. Analysts said lowering the reserve ratio …

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Egypt central bank seen keeping key rates steady

By Patrick Werr / Reuters CAIRO: Egypt’s central bank is expected to leave its key interest rates unchanged this week after inflation increased only mildly in February and following a cut in the reserve requirement on local currency deposits that should help to spur growth. In a Reuters survey, all five economists forecast that Thursday’s meeting …

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Egypt gains after central bank cuts reserve ratio

By Reuters CAIRO: Commercial International Bank and other financials lifted Egypt’s main index to a 1 percent gain, a day after the central bank cut its reserve requirement on local currency deposits, traders said. The central bank said on Tuesday the requirement would be lowered to 12 percent from 14 percent, in a move aimed …

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Egypt central bank lowers reserve requirement on deposits

By Patrick Werr / Reuters CAIRO: Egypt’s central bank cut its reserve requirement on local currency deposits to 12 percent from 14 percent on Tuesday, in a move to provide banks with more cash to lend to the government and business. The government has increased its borrowing to finance a burgeoning budget deficit since last year’s …

DNE

Egypt T-bill auction a success as demand picks up

By Tom Pfeiffer / Reuters CAIRO: Egypt’s central bank sold more treasury bills than it originally offered at an auction on Sunday, as optimism that the country will secure an emergency IMF loan draws more local investors into high-yielding government debt, analysts said. The bank sold LE 4.5 billion ($746 million) of 266-day T-bills, instead of …

DNE

Egypt sells more T-bills than offered as yields dip

By Tom Pfeiffer and Mohamed Samir /Reuters CAIRO: Egypt’s central bank sold more treasury bills than it originally offered at an auction on Thursday as optimism that the country may be over the worst of an economic crisis pushed yields down from historic highs. It was the second decline for 182-day T-bill yields in two weeks. …

DNE

Egypt cbank accepts repos worth LE 14 bln

By Mohamed Samir / Reuters CAIRO: Egypt’s central bank accepted LE 14.434 billion ($2.39 billion) in seven-day repurchase agreements in the money market on Tuesday. It had offered 17 billion pounds. The repos carry a fixed rate of 9.75 percent. The central bank introduced its weekly repo offerings last March to manage short-term interest rates after …

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Egypt attracts solid demand for 7-year government bonds

By Tom Pfeiffer and Mohamed Samir / Reuters CAIRO: Egypt attracted solid demand at an auction of seven-year treasury bonds on Monday amid optimism that foreign donors will help ease the country’s fiscal crisis, traders said. The army-backed government hopes to secure $3.2 billion of funding from the International Monetary Fund soon as it moves to …

DNE

Yield edges down at Egypt T-bill auction

By Reuters CAIRO: The average yield on 182-day and 364-day Egyptian treasury bills inched down at an auction on Thursday and the central bank sold all the bills it was offering, the bank said.. The average yield on the 182-day T-bills was 14.89 percent, down from 14.923 percent at the last week’s auction. The bank …

DNE

Central Bank sells more 182-day T-bills than it offered

By Mohamed Samir / Reuters CAIRO: 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 LE4.5 billion ($745.50 million) of 182-day T-bills on behalf of the Finance Ministry instead of the LE3 billion it had …

DNE

Egypt says to offer citizens abroad $2 bln in CDs

By Patrick Werr / Reuters CAIRO: Egypt will offer its citizens living outside the country $2 billion in three- and five-year certificates of deposit (CDs) within one or two weeks, the finance minister said on Wednesday. The CDs will carry an interest rate of “no more than 4 percent” and have maturities of three to five …

DNE

Egypt central bank tightens money transfer rules

CAIRO: Egypt’s central bank has tightened its rules for importers who want to transmit funds, a move analysts say seems designed to close a loophole that has allowed businessmen to shift capital abroad without bringing goods into Egypt. Egypt’s central bank has been spending about $2 billion in foreign reserves a month as it tries …

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