Egypt Treasury bills · auction of 22 August 2023
Egypt T-bill auction, 22 August 2023: 364-day at 25.09%, up 39 bps
At the Treasury bill auction dated 22 August 2023, the Central Bank of Egypt cleared the 91-day bill at 24.66% (up 14 basis points), the 182-day bill at 25.07% (up 14 basis points) and the 364-day bill at 25.09% (up 39 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 152.9bn against EGP 66.0bn on offer, 232% of the amount sought, and EGP 118.1bn was accepted.
At 25.09%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 16.47%, so the government is paying 862 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 25,093 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 125,093 after 12 months: EGP 25,093 in interest before any withholding tax, about EGP 2,091 a month.
That is EGP 386 more than the same money would have earned at the previous auction.
For shorter money: EGP 12,533 on the 182-day bill (6 months), EGP 6,165 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 | 24.658% | 24.522% | EGP 23.00bn | EGP 72.21bn | EGP 58.29bn |
| 182-day | 25.066% | 24.921% | EGP 19.00bn | EGP 34.45bn | EGP 23.62bn |
| 364-day | 25.093% | 24.707% | EGP 24.00bn | EGP 46.23bn | EGP 36.20bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 22 August 2023, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-08-22
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