Egypt Treasury bills · auction of 20 December 2022
Egypt T-bill auction, 20 December 2022: 364-day at 18.82%, unchanged
At the Treasury bill auction dated 20 December 2022, the Central Bank of Egypt cleared the 91-day bill at 18.07% (up 4 basis points), the 182-day bill at 18.70% (up 1 basis point) and the 364-day bill at 18.82% (unchanged). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 58.3bn against EGP 33.5bn on offer, 174% of the amount sought, and EGP 25.4bn was accepted.
At 18.82%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.28%, so the government is paying 553 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 18,815 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 118,815 after 12 months: EGP 18,815 in interest before any withholding tax, about EGP 1,568 a month.
That is EGP 4 more than the same money would have earned at the previous auction.
For shorter money: EGP 9,351 on the 182-day bill (6 months), EGP 4,518 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 | 18.070% | 18.035% | EGP 7.50bn | EGP 33.50bn | EGP 23.23bn |
| 182-day | 18.702% | 18.692% | EGP 4.50bn | EGP 5.71bn | EGP 625m |
| 364-day | 18.815% | 18.811% | EGP 21.50bn | EGP 19.05bn | EGP 1.52bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 20 December 2022, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2022-12-20
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