February 7, 2011 / 1:09 PM / 9 years ago

Egypt cbank reduces size of t-bills offering-banker

CAIRO, Feb 7 (Reuters) - Egypt’s central bank reduced the size of its 15 billion Egyptian pound ($2.52 billion) Treasury bill offering on Monday, a banker said.

The bank had been offering 8 billion Egyptian pounds in 91-day bills, but was now only selling 7 billion pounds worth, the banker said.

Other maturities were also reduced, but the banker did not say by how much. The central bank was also offering 5 billion pounds in 182-day bills and 2 billion pounds in 273-day bills.

The average yield of 91-day bills sold on Monday was about 11 percent, up from 9.5 percent at the last sale before political unrest closed the banking system for a week, the banker said.

The central bank could not be immediately reached for comment. ($1=5.952 Egyptian Pound) (Reporting by Patrick Werr)

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