Egypt Treasury bills · auction of 10 January 2023
Egypt T-bill auction, 10 January 2023: 364-day at 20.89%, up 198 bps
At the Treasury bill auction dated 10 January 2023, the Central Bank of Egypt cleared the 91-day bill at 20.28% (up 195 basis points), the 182-day bill at 20.59% (up 142 basis points) and the 364-day bill at 20.89% (up 198 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 126.6bn against EGP 57.0bn on offer, 222% of the amount sought, and EGP 21.1bn was accepted.
At 20.89%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.22%, so the government is paying 766 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 20,886 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 120,886 after 12 months: EGP 20,886 in interest before any withholding tax, about EGP 1,741 a month.
That is EGP 1,980 more than the same money would have earned at the previous auction.
For shorter money: EGP 10,298 on the 182-day bill (6 months), EGP 5,070 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 | 20.281% | 18.329% | EGP 13.50bn | EGP 76.24bn | EGP 14.67bn |
| 182-day | 20.595% | 19.170% | EGP 20.50bn | EGP 24.61bn | EGP 2.64bn |
| 364-day | 20.886% | 18.906% | EGP 23.00bn | EGP 25.73bn | EGP 3.75bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 10 January 2023, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-01-10
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