Egypt Treasury bills · auction of 14 March 2023
Egypt T-bill auction, 14 March 2023: 364-day at 22.58%, down 1 bps
At the Treasury bill auction dated 14 March 2023, the Central Bank of Egypt cleared the 91-day bill at 20.52% (up 19 basis points), the 182-day bill at 22.48% (up 34 basis points) and the 364-day bill at 22.58% (down 1 basis point). The rate shown is the weighted average yield of accepted bids.
The auction was fully subscribed: bids totalled EGP 72.1bn against EGP 56.5bn on offer, 128% of the amount sought, and EGP 26.7bn was accepted.
Over the past year the 364-day rate has ranged from 13.15% to 22.59%.
A year earlier the 364-day bill cleared at 13.21%, so the government is paying 937 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 22,584 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 122,584 after 12 months: EGP 22,584 in interest before any withholding tax, about EGP 1,882 a month.
That is EGP 7 less than the same money would have earned at the previous auction.
For shorter money: EGP 11,241 on the 182-day bill (6 months), EGP 5,129 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 | 20.516% | 20.325% | EGP 13.00bn | EGP 26.56bn | EGP 16.17bn |
| 182-day | 22.481% | 22.145% | EGP 20.00bn | EGP 22.50bn | EGP 7.04bn |
| 364-day | 22.584% | 22.591% | EGP 23.50bn | EGP 23.01bn | EGP 3.48bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 14 March 2023, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-03-14
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