Egypt Treasury bills · auction of 28 March 2023
Egypt T-bill auction, 28 March 2023: 364-day at 22.55%, down 3 bps
At the Treasury bill auction dated 28 March 2023, the Central Bank of Egypt cleared the 91-day bill at 20.97% (up 10 basis points), the 182-day bill at 22.59% (up 1 basis point) and the 364-day bill at 22.55% (down 3 basis points). The rate shown is the weighted average yield of accepted bids.
The auction was fully subscribed: bids totalled EGP 66.0bn against EGP 56.5bn on offer, 117% of the amount sought, and EGP 5.8bn was accepted.
Over the past year the 364-day rate has ranged from 13.41% to 22.59%.
A year earlier the 364-day bill cleared at 13.15%, so the government is paying 939 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 22,546 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 122,546 after 12 months: EGP 22,546 in interest before any withholding tax, about EGP 1,879 a month.
That is EGP 32 less than the same money would have earned at the previous auction.
For shorter money: EGP 11,297 on the 182-day bill (6 months), EGP 5,242 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 | 20.968% | 20.870% | EGP 13.00bn | EGP 15.07bn | EGP 2.02bn |
| 182-day | 22.593% | 22.586% | EGP 20.00bn | EGP 24.41bn | EGP 3.38bn |
| 364-day | 22.546% | 22.578% | EGP 23.50bn | EGP 26.54bn | EGP 428m |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 28 March 2023, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-03-28
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