Egypt Treasury bills · auction of 9 November 2004
Egypt T-bill auction, 9 November 2004: 91-day at 10.56%, down 16 bps
At the Treasury bill auction dated 9 November 2004, the Central Bank of Egypt cleared the 91-day bill at 10.56% (down 16 basis points) and the 182-day bill at 10.93% (down 27 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 4.5bn against EGP 1.5bn on offer, 301% of the amount sought, and EGP 1.5bn was accepted.
Over the past year the 91-day rate has ranged from 6.73% to 11.28%.
A year earlier the 91-day bill cleared at 7.06%, so the government is paying 350 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 5,463 in 6 months on the 182-day bill
Put EGP 100,000 into the 182-day bill at this auction and you get back EGP 105,463 after 6 months: EGP 5,463 in interest before any withholding tax, about EGP 910 a month.
That is EGP 135 less than the same money would have earned at the previous auction.
For shorter money: EGP 2,639 on the 91-day bill (3 months).
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 | 10.557% | 10.716% | EGP 500m | EGP 1.80bn | EGP 500m |
| 182-day | 10.925% | 11.194% | EGP 1.00bn | EGP 2.71bn | EGP 1.00bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 9 November 2004, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2004-11-09
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