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Central bank of Egypt (CBE) to offer 23 investors treasury bills (T-bills).
Over twenty-nine foreign and domestic investors has offer to invest in the Central bank of Egypt (CBE) treasury bills (T-bills). The T-bill which was issued out this week will allow bank to subscribe with a minimum of US$100,000.
Central bank of Egypt offer the investor the deal on behalf of the ministry of finance. The interest rate on this bills is based on a number of indicators.
Such indicators include; the USD liquidity in the market, alternative investment from banks and Egypt credit rating.
— Daily News Egypt (@DailyNewsEgypt) May 7, 2019
The CBE is accept the offer which will be for one year. Meanwhile, the interest rate accepted by CBE in the tender was 3.85% as lower price, 3.89% as higher price and 3.87% on an average.
CBE also plans to accept only 23 offers from the investors which will be worth US$1billion.