Egypt Treasury bills · auction of 3 January 2023
Egypt T-bill auction, 3 January 2023: 364-day at 18.91%, up 3 bps
At the Treasury bill auction dated 3 January 2023, the Central Bank of Egypt cleared the 91-day bill at 18.33% (up 24 basis points), the 182-day bill at 19.17% (up 50 basis points) and the 364-day bill at 18.91% (up 3 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 95.0bn against EGP 57.0bn on offer, 167% of the amount sought, and EGP 5.1bn was accepted.
At 18.91%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.25%, so the government is paying 566 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 18,906 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 118,906 after 12 months: EGP 18,906 in interest before any withholding tax, about EGP 1,575 a month.
That is EGP 32 more than the same money would have earned at the previous auction.
For shorter money: EGP 9,585 on the 182-day bill (6 months), EGP 4,582 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 | 18.329% | 18.088% | EGP 13.50bn | EGP 47.61bn | EGP 1.30bn |
| 182-day | 19.170% | 18.673% | EGP 20.50bn | EGP 16.07bn | EGP 249m |
| 364-day | 18.906% | 18.874% | EGP 23.00bn | EGP 31.35bn | EGP 3.58bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 3 January 2023, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-01-03
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