Egypt Treasury bills · auction of 22 July 2008
Egypt T-bill auction, 22 July 2008: 364-day at 11.69%, down 16 bps
At the Treasury bill auction dated 22 July 2008, the Central Bank of Egypt cleared the 91-day bill at 9.86% (down 15 basis points), the 182-day bill at 10.97% (down 28 basis points) and the 364-day bill at 11.69% (down 16 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 13.4bn against EGP 4.0bn on offer, 335% of the amount sought, and EGP 4.0bn was accepted.
Over the past year the 364-day rate has ranged from 5.62% to 11.85%.
A year earlier the 364-day bill cleared at 7.66%, so the government is paying 403 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 11,692 in 12 months on the 364-day bill
Put EGP 100,000 into the 364-day bill at this auction and you get back EGP 111,692 after 12 months: EGP 11,692 in interest before any withholding tax, about EGP 974 a month.
That is EGP 157 less than the same money would have earned at the previous auction.
For shorter money: EGP 5,485 on the 182-day bill (6 months), EGP 2,466 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 | 9.862% | 10.012% | EGP 1.00bn | EGP 1.87bn | EGP 1.00bn |
| 182-day | 10.970% | 11.248% | EGP 1.50bn | EGP 5.83bn | EGP 1.50bn |
| 364-day | 11.692% | 11.849% | EGP 1.50bn | EGP 5.71bn | EGP 1.50bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 22 July 2008, compiled from the Central Bank of Egypt. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2008-07-22
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