Egypt aims to ease pressure on foreign exchange reserves with $1bn treasury bill auction
2024/02/06 19:18
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Only a month ago, the Central Bank of Egypt reportedly raised $850 million through the auction of dollar-denominated treasury bills, and now it is said to be preparing to raise $1 billion through a similar instrument. The decision to raise the overnight rate is said to be part of the central bank's ongoing efforts to stabilise Egypt's faltering economy.
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