Egypt central bank accepts record 20 billion pounds in repo
The Egyptian central bank accepted 20 billion pounds in bids for seven-day repurchase agreements, or repos, a record amount since it introduced the facility this year.
The regulator received bids for 20.6 billion pounds, according to its data on Bloomberg. The contracts allow holders of government securities to sell them back to the central bank to access funds for a week at 9.75 percent.
To contact the reporter on this story: Alaa Shahine in Dubai at asalhabloomberg.net
To contact the editor responsible for this story: Shaji Mathew at shajimathewbloomberg.net
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