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UPDATE 1-Average yields fall on Egypt's six-month and one-year T-bills
June 8, 2017 / 1:22 PM / 5 months ago

UPDATE 1-Average yields fall on Egypt's six-month and one-year T-bills

(Adds foreign participation)

CAIRO, June 8 (Reuters) - Average yields on Egypt’s six-month and one-year treasury bills fell at auction on Thursday, data from the central bank showed.

The average yield on the 182-day bill fell to 20.373 percent from 20.441 percent at the last sale.

The yield on the 364-day bill fell to 20.274 percent from 20.494 percent in the previous auction.

Foreigners have been buying up Egyptian government debt since the central bank hiked its key interest rates by 200 basis points last month.

As of June 6, foreign participation has reached 145.5 billion Egyptian pounds ($8 billion) since Egypt floated its currency in November, the head of public debt at the Finance Ministry, Sami Khallaf, told Reuters.

$1 = 18.1200 Egyptian pounds Reporting by Arwa Gaballa and Eric Knecht; Editing by Ahmed Aboulenein

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