Egypt Treasury bills · auction of 4 July 2023
Egypt T-bill auction, 4 July 2023: 364-day at 23.47%, down 57 bps
At the Treasury bill auction dated 4 July 2023, the Central Bank of Egypt cleared the 91-day bill at 23.34% (up 5 basis points), the 182-day bill at 24.21% (up 2 basis points) and the 364-day bill at 23.47% (down 57 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 99.4bn against EGP 65.5bn on offer, 152% of the amount sought, and EGP 24.1bn was accepted.
Over the past year the 364-day rate has ranged from 15.61% to 24.14%.
A year earlier the 364-day bill cleared at 14.08%, so the government is paying 938 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 23,468 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 123,468 after 12 months: EGP 23,468 in interest before any withholding tax, about EGP 1,956 a month.
That is EGP 571 less than the same money would have earned at the previous auction.
For shorter money: EGP 12,104 on the 182-day bill (6 months), EGP 5,836 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 | 23.343% | 23.290% | EGP 22.50bn | EGP 42.87bn | EGP 21.82bn |
| 182-day | 24.208% | 24.187% | EGP 18.50bn | EGP 28.27bn | EGP 2.14bn |
| 364-day | 23.468% | 24.039% | EGP 24.50bn | EGP 28.24bn | EGP 107m |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 4 July 2023, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-07-04
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