Egypt Treasury bills · auction of 2 May 2023
Egypt T-bill auction, 2 May 2023: 364-day at 23.52%, up 5 bps
At the Treasury bill auction dated 2 May 2023, the Central Bank of Egypt cleared the 91-day bill at 22.18% (up 33 basis points), the 182-day bill at 23.52% (up 21 basis points) and the 364-day bill at 23.52% (up 5 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 143.4bn against EGP 62.0bn on offer, 231% of the amount sought, and EGP 55.3bn was accepted.
At 23.52%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.41%, so the government is paying 1011 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 23,522 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 123,522 after 12 months: EGP 23,522 in interest before any withholding tax, about EGP 1,960 a month.
That is EGP 47 more than the same money would have earned at the previous auction.
For shorter money: EGP 11,762 on the 182-day bill (6 months), EGP 5,546 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 | 22.184% | 21.858% | EGP 22.50bn | EGP 70.79bn | EGP 35.29bn |
| 182-day | 23.523% | 23.308% | EGP 16.00bn | EGP 38.61bn | EGP 15.71bn |
| 364-day | 23.522% | 23.475% | EGP 23.50bn | EGP 33.96bn | EGP 4.29bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 2 May 2023, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-05-02
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