Egypt Treasury bills · auction of 18 September 2003
Egypt T-bill auction, 18 September 2003: 91-day at 7.98%, down 2 bps
At the Treasury bill auction dated 18 September 2003, the Central Bank of Egypt cleared the 91-day bill at 7.98% (down 2 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 3.6bn against EGP 1.5bn on offer, 239% of the amount sought, and EGP 1.8bn was accepted.
Over the past year the 91-day rate has ranged from 4.60% to 13.59%.
A year earlier the 91-day bill cleared at 7.13%, so the government is paying 85 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 1,994 in 3 months on the 91-day bill
Put EGP 100,000 into the 91-day bill at this auction and you get back EGP 101,994 after 3 months: EGP 1,994 in interest before any withholding tax, about EGP 665 a month.
That is EGP 6 less than the same money would have earned at the previous auction.
The government pays the full amount at maturity; the risk is Egypt’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 7.977% | 8.000% | EGP 1.50bn | EGP 3.58bn | EGP 1.82bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 18 September 2003, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2003-09-18
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