Egypt reduces size of T-bill sale, yields rise

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CAIRO  - Egypt's central bank sold 5.125 billion Egyptian pounds in domestic treasury bills on Sunday, paring 375 million pounds from the amount it had offered, Egypt's Finance Ministry said.

The central bank sold 2 billion pounds of 91-day T-bills, the same amount it had offered, on behalf of the ministry. The average yield rose to 14.348 percent from 14.258 percent at last week's auction.
It sold only 3.125 billion pounds of 273-day T-bills, instead of the 3.5 billion pounds it had asked for. The average yield rose to 15.084 percent from 14.251 percent at the last issue on Nov 15.