Egypt Treasury bills · auction of 20 February 2024
Egypt T-bill auction, 20 February 2024: 364-day at 28.68%, up 60 bps
At the Treasury bill auction dated 20 February 2024, the Central Bank of Egypt cleared the 91-day bill at 27.32% (up 14 basis points), the 182-day bill at 28.17% (up 43 basis points) and the 364-day bill at 28.68% (up 60 basis points). The rate shown is the weighted average yield of accepted bids.
Demand was strong: bids totalled EGP 289.5bn against EGP 105.0bn on offer, 276% of the amount sought, and EGP 189.4bn was accepted.
At 28.68%, the 364-day rate is the highest in the 52 auctions of the past year.
A year earlier the 364-day bill cleared at 22.13%, so the government is paying 656 basis points more than twelve months ago.
What this means for EGP 100,000
Worked from the published rate · information, not advice
EGP 28,683 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 128,683 after 12 months: EGP 28,683 in interest before any withholding tax, about EGP 2,390 a month.
That is EGP 601 more than the same money would have earned at the previous auction.
For shorter money: EGP 14,085 on the 182-day bill (6 months), EGP 6,831 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 | 27.323% | 27.178% | EGP 35.00bn | EGP 232.75bn | EGP 162.61bn |
| 182-day | 28.169% | 27.741% | EGP 35.00bn | EGP 28.45bn | EGP 17.10bn |
| 364-day | 28.683% | 28.082% | EGP 35.00bn | EGP 28.26bn | EGP 9.64bn |
Source: Central Bank of Egypt result · weighted average yield of accepted bids
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Afronomics (2026). Egypt Treasury bill auction, 20 February 2024, compiled from the Central Bank of Egypt. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/egypt/2024-02-20
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