Egypt Treasury bills · auction of 14 February 2023
Egypt T-bill auction, 14 February 2023: 364-day at 22.13%, up 9 bps
At the Treasury bill auction dated 14 February 2023, the Central Bank of Egypt cleared the 91-day bill at 20.65% (unchanged), the 182-day bill at 21.59% (up 9 basis points) and the 364-day bill at 22.13% (up 9 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 163.9bn against EGP 56.5bn on offer, 290% of the amount sought, and EGP 69.4bn was accepted.
At 22.13%, 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 892 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 22,126 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 122,126 after 12 months: EGP 22,126 in interest before any withholding tax, about EGP 1,844 a month.
That is EGP 91 more than the same money would have earned at the previous auction.
For shorter money: EGP 10,795 on the 182-day bill (6 months), EGP 5,162 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 | 20.649% | 20.653% | EGP 13.00bn | EGP 82.15bn | EGP 29.82bn |
| 182-day | 21.589% | 21.494% | EGP 20.00bn | EGP 34.22bn | EGP 16.00bn |
| 364-day | 22.126% | 22.035% | EGP 23.50bn | EGP 47.55bn | EGP 23.55bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 14 February 2023, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-02-14
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