The total size of foreign investors’ bids for treasury bills stood at about EGP 2.8bn for 91 and 273 days, according to a state official.
The foreigners’ investments in Egyptian treasury bills reached EGP 145.8bn, equivalent to EGP 8bn since the flotation of pound in November 2016.
Meanwhile, the yield on treasury bills for 91 days declined to 20.33%, compared to 20.51% in the last issuance for the same term.
The Central Bank of Egypt (CBE) issued treasury bills for 91 days worth EGP 6.25bn on behalf of the Ministry of Finance, in which the bank received bids of about EGP 14.4bn, which were accepted at the same value without increase.
The highest return on treasury bills recorded 20.41%, while the lowest rate was 19.99% covered by 2.3 times.
The yield on treasury bills for 266 days fell by 0.11% to reach 20.36% compared to 20.47% in the latest bid.
The Ministry of Finance borrowed through the CBE a number of treasury bills for 266 days worth EGP 6bn and the bank received bids of EGP 15bn, in which the bank accepted only the same target value.
The highest interest rate on treasury bills for 266 days was 20.46%, while the lowest return was 15.31%, covered for 2.5 times.
On the other hand, the source said that Egypt had repaid its dues to Qatar in July 2016, totaling about $1bn in deposits.
Qatar provided dollar deposits worth $7bn-8bn to Egypt between 2011 and 2013, though the strained relations between the two countries after June 2013 prompted Egypt to repay all the Qatari deposits.
Egypt and four Gulf States—Saudi Arabia, Bahrain, the United Arab Emirates, and Yemen—cut their diplomatic ties with Qatar on Monday over its interference in domestic affairs and supporting terrorism.
The source further added that the CBE did not ask the banks to stop dealing on the Qatari riyal, but the banks made their decisions individually on the background of some disputes with correspondents of those banks in Qatar.
A number of Egyptian banks stopped trading on the Qatari currency after Egypt announced severing its relations with Qatar, led by the National Bank of Egypt (NBE), the largest government bank.