Egypt Treasury bills · auction of 21 January 2020
Egypt T-bill auction, 21 January 2020: 364-day at 13.74%, down 81 bps
At the Treasury bill auction dated 21 January 2020, the Central Bank of Egypt cleared the 91-day bill at 14.02% (down 53 basis points), the 182-day bill at 13.83% (down 104 basis points) and the 364-day bill at 13.74% (down 81 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 65.8bn against EGP 24.5bn on offer, 268% of the amount sought, and EGP 26.0bn was accepted.
At 13.74%, the 364-day rate is the lowest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 19.37%, so the government is paying 563 basis points less than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 13,737 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 113,737 after 12 months: EGP 13,737 in interest before any withholding tax, about EGP 1,145 a month.
That is EGP 806 less than the same money would have earned at the previous auction.
For shorter money: EGP 6,916 on the 182-day bill (6 months), EGP 3,506 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 | 14.023% | 14.548% | EGP 4.00bn | EGP 6.31bn | EGP 534m |
| 182-day | 13.832% | 14.877% | EGP 10.00bn | EGP 22.85bn | EGP 10.00bn |
| 364-day | 13.737% | 14.543% | EGP 10.50bn | EGP 36.60bn | EGP 15.46bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 21 January 2020, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2020-01-21
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