Egypt Treasury bills · auction of 23 May 2023
Egypt T-bill auction, 23 May 2023: 364-day at 23.78%, up 9 bps
At the Treasury bill auction dated 23 May 2023, the Central Bank of Egypt cleared the 91-day bill at 22.70% (up 8 basis points), the 182-day bill at 23.77% (up 4 basis points) and the 364-day bill at 23.78% (up 9 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 130.8bn against EGP 62.5bn on offer, 209% of the amount sought, and EGP 53.5bn was accepted.
At 23.78%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 13.62%, so the government is paying 1016 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 23,782 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 123,782 after 12 months: EGP 23,782 in interest before any withholding tax, about EGP 1,982 a month.
That is EGP 86 more than the same money would have earned at the previous auction.
For shorter money: EGP 11,887 on the 182-day bill (6 months), EGP 5,676 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 | 22.704% | 22.623% | EGP 23.00bn | EGP 69.51bn | EGP 40.99bn |
| 182-day | 23.773% | 23.731% | EGP 16.50bn | EGP 26.76bn | EGP 3.04bn |
| 364-day | 23.782% | 23.696% | EGP 23.00bn | EGP 34.54bn | EGP 9.45bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 23 May 2023, compiled from the Central Bank of Egypt. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-05-23
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