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Egypt Central Bank accepts repos worth 7 billion Egyptian pounds

Central Bank of Egypt

Egypt's central bank accepted 7 billion Egyptian pounds ($984.9 million) in seven-day repurchase agreements in the money market on Tuesday.

September 12, 2012 9:45 by



Egypt’s central bank accepted 7 billion Egyptian pounds ($984.9 million) in seven-day repurchase agreements in the money market on Tuesday..

The repos carry a fixed rate of 9.75 percent.

The central bank introduced weekly repo offerings in March 2011 to manage short-term interest rates during the political and economic unrest in the wake of the toppling of President Hosni Mubarak. ($1 = 6.0920 Egyptian pounds) (Reporting by Patrick Werr)



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