Egypt Treasury bills · auction of 21 March 2023
Egypt T-bill auction, 21 March 2023: 364-day at 22.58%, down 1 bps
At the Treasury bill auction dated 21 March 2023, the Central Bank of Egypt cleared the 91-day bill at 20.87% (up 35 basis points), the 182-day bill at 22.59% (up 10 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 66.0bn against EGP 57.0bn on offer, 116% of the amount sought, and EGP 18.4bn was accepted.
Over the past year the 364-day rate has ranged from 13.39% to 22.59%.
A year earlier the 364-day bill cleared at 13.20%, so the government is paying 938 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 22,578 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 122,578 after 12 months: EGP 22,578 in interest before any withholding tax, about EGP 1,881 a month.
That is EGP 6 less than the same money would have earned at the previous auction.
For shorter money: EGP 11,293 on the 182-day bill (6 months), EGP 5,218 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 | 20.870% | 20.516% | EGP 13.50bn | EGP 22.48bn | EGP 14.85bn |
| 182-day | 22.586% | 22.481% | EGP 20.50bn | EGP 21.13bn | EGP 2.33bn |
| 364-day | 22.578% | 22.584% | EGP 23.00bn | EGP 22.42bn | EGP 1.26bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 21 March 2023, compiled from the Central Bank of Egypt. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-03-21
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