Egypt Treasury bills · auction of 17 January 2023
Egypt T-bill auction, 17 January 2023: 364-day at 21.52%, up 63 bps
At the Treasury bill auction dated 17 January 2023, the Central Bank of Egypt cleared the 91-day bill at 20.52% (up 24 basis points), the 182-day bill at 21.03% (up 44 basis points) and the 364-day bill at 21.52% (up 63 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 253.6bn against EGP 56.5bn on offer, 449% of the amount sought, and EGP 169.3bn was accepted.
At 21.52%, 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 830 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 21,520 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 121,520 after 12 months: EGP 21,520 in interest before any withholding tax, about EGP 1,793 a month.
That is EGP 634 more than the same money would have earned at the previous auction.
For shorter money: EGP 10,516 on the 182-day bill (6 months), EGP 5,130 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 | 20.520% | 20.281% | EGP 13.00bn | EGP 140.08bn | EGP 87.07bn |
| 182-day | 21.032% | 20.595% | EGP 20.00bn | EGP 67.62bn | EGP 51.85bn |
| 364-day | 21.520% | 20.886% | EGP 23.50bn | EGP 45.89bn | EGP 30.40bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 17 January 2023, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-01-17
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