Egypt Treasury bills · auction of 31 January 2023
Egypt T-bill auction, 31 January 2023: 364-day at 21.95%, up 11 bps
At the Treasury bill auction dated 31 January 2023, the Central Bank of Egypt cleared the 91-day bill at 20.67% (up 2 basis points), the 182-day bill at 21.38% (up 7 basis points) and the 364-day bill at 21.95% (up 11 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 93.0bn against EGP 56.5bn on offer, 165% of the amount sought, and EGP 45.0bn was accepted.
At 21.95%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.21%, so the government is paying 875 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 21,953 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 121,953 after 12 months: EGP 21,953 in interest before any withholding tax, about EGP 1,829 a month.
That is EGP 108 more than the same money would have earned at the previous auction.
For shorter money: EGP 10,688 on the 182-day bill (6 months), EGP 5,168 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 | 20.671% | 20.649% | EGP 13.00bn | EGP 38.44bn | EGP 15.37bn |
| 182-day | 21.376% | 21.304% | EGP 20.00bn | EGP 22.94bn | EGP 10.69bn |
| 364-day | 21.953% | 21.845% | EGP 23.50bn | EGP 31.67bn | EGP 18.90bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 31 January 2023, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-01-31
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