Egypt Treasury bills · auction of 16 May 2023
Egypt T-bill auction, 16 May 2023: 364-day at 23.70%, up 12 bps
At the Treasury bill auction dated 16 May 2023, the Central Bank of Egypt cleared the 91-day bill at 22.62% (up 23 basis points), the 182-day bill at 23.73% (up 8 basis points) and the 364-day bill at 23.70% (up 12 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 136.9bn against EGP 62.0bn on offer, 221% of the amount sought, and EGP 53.0bn was accepted.
At 23.70%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.69%, so the government is paying 1001 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 23,696 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 123,696 after 12 months: EGP 23,696 in interest before any withholding tax, about EGP 1,975 a month.
That is EGP 115 more than the same money would have earned at the previous auction.
For shorter money: EGP 11,866 on the 182-day bill (6 months), EGP 5,656 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 | 22.623% | 22.394% | EGP 22.50bn | EGP 62.62bn | EGP 34.22bn |
| 182-day | 23.731% | 23.648% | EGP 16.00bn | EGP 39.51bn | EGP 12.53bn |
| 364-day | 23.696% | 23.581% | EGP 23.50bn | EGP 34.77bn | EGP 6.26bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 16 May 2023, compiled from the Central Bank of Egypt. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-05-16
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