Egypt Treasury bills · auction of 12 September 2023
Egypt T-bill auction, 12 September 2023: 364-day at 25.54%, up 17 bps
At the Treasury bill auction dated 12 September 2023, the Central Bank of Egypt cleared the 91-day bill at 24.98% (up 11 basis points), the 182-day bill at 25.35% (up 6 basis points) and the 364-day bill at 25.54% (up 17 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 163.2bn against EGP 65.0bn on offer, 251% of the amount sought, and EGP 120.2bn was accepted.
At 25.54%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 16.88%, so the government is paying 866 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 25,541 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 125,541 after 12 months: EGP 25,541 in interest before any withholding tax, about EGP 2,128 a month.
That is EGP 167 more than the same money would have earned at the previous auction.
For shorter money: EGP 12,675 on the 182-day bill (6 months), EGP 6,245 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 | 24.980% | 24.873% | EGP 22.50bn | EGP 93.07bn | EGP 73.08bn |
| 182-day | 25.350% | 25.287% | EGP 18.50bn | EGP 32.69bn | EGP 14.14bn |
| 364-day | 25.541% | 25.374% | EGP 24.00bn | EGP 37.48bn | EGP 33.02bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 12 September 2023, compiled from the Central Bank of Egypt. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2023-09-12
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