Egypt Treasury bills · auction of 9 May 2023
Egypt T-bill auction, 9 May 2023: 364-day at 23.58%, up 6 bps
At the Treasury bill auction dated 9 May 2023, the Central Bank of Egypt cleared the 91-day bill at 22.39% (up 21 basis points), the 182-day bill at 23.65% (up 13 basis points) and the 364-day bill at 23.58% (up 6 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 151.1bn against EGP 62.5bn on offer, 242% of the amount sought, and EGP 85.0bn was accepted.
At 23.58%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.63%, so the government is paying 995 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 23,581 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 123,581 after 12 months: EGP 23,581 in interest before any withholding tax, about EGP 1,965 a month.
That is EGP 59 more than the same money would have earned at the previous auction.
For shorter money: EGP 11,824 on the 182-day bill (6 months), EGP 5,598 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 | 22.394% | 22.184% | EGP 23.00bn | EGP 72.51bn | EGP 50.42bn |
| 182-day | 23.648% | 23.523% | EGP 16.50bn | EGP 37.07bn | EGP 19.81bn |
| 364-day | 23.581% | 23.522% | EGP 23.00bn | EGP 41.56bn | EGP 14.81bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 9 May 2023, compiled from the Central Bank of Egypt. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-05-09
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