Egypt Treasury bills · auction of 23 November 2004
Egypt T-bill auction, 23 November 2004: 91-day at 10.40%, down 16 bps
At the Treasury bill auction dated 23 November 2004, the Central Bank of Egypt cleared the 91-day bill at 10.40% (down 16 basis points) and the 182-day bill at 10.64% (down 29 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 4.0bn against EGP 1.2bn on offer, 332% of the amount sought, and EGP 1.2bn 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 7.14%, so the government is paying 326 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 5,319 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 105,319 after 6 months: EGP 5,319 in interest before any withholding tax, about EGP 887 a month.
That is EGP 144 less than the same money would have earned at the previous auction.
For shorter money: EGP 2,599 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 | 10.396% | 10.557% | EGP 500m | EGP 1.71bn | EGP 500m |
| 182-day | 10.638% | 10.925% | EGP 700m | EGP 2.27bn | EGP 700m |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 23 November 2004, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2004-11-23
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