Egypt Treasury bills · auction of 28 February 2023
Egypt T-bill auction, 28 February 2023: 364-day at 22.39%, up 12 bps
At the Treasury bill auction dated 28 February 2023, the Central Bank of Egypt cleared the 91-day bill at 20.29% (down 21 basis points), the 182-day bill at 21.96% (up 20 basis points) and the 364-day bill at 22.39% (up 12 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 179.7bn against EGP 56.5bn on offer, 318% of the amount sought, and EGP 109.0bn was accepted.
At 22.39%, 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 917 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 22,393 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 122,393 after 12 months: EGP 22,393 in interest before any withholding tax, about EGP 1,866 a month.
That is EGP 120 more than the same money would have earned at the previous auction.
For shorter money: EGP 10,981 on the 182-day bill (6 months), EGP 5,073 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 | 20.290% | 20.502% | EGP 13.00bn | EGP 96.55bn | EGP 56.52bn |
| 182-day | 21.962% | 21.767% | EGP 20.00bn | EGP 38.44bn | EGP 25.38bn |
| 364-day | 22.393% | 22.273% | EGP 23.50bn | EGP 44.75bn | EGP 27.11bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 28 February 2023, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-02-28
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