February 5, 2011 / 4:35 PM / 9 years ago

Egypt to auction T-bills Monday for Tues settlement

CAIRO, Feb 5 (Reuters) - Egypt’s central bank will resume its Treasury bill auctions on Monday after a one-week interruption caused by the country’s political unrest, Deputy Governor Hisham Ramez said.

“We will announce the schedule on Sunday, hold the auction on Monday and have settlement on Tuesday,” he said by telephone. He did not mention the amounts to be offered or their maturities.

Egypt’s banks will reopen on Sunday after a week-long closure. The central bank has said it will redeem on Sunday bills worth 3.5 billion Egyptian pounds ($6 million) that matured last week. Another 17 billion in bills will mature on Tuesday. ($1=5.857 Egyptian Pound) (Reporting by Patrick Werr)

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