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00:46
Egypt's central bank issues 75 bln EGP in treasury bills
STORY: Egypt's central bank issues 75 bln EGP in treasury bills
SHOOTING TIME: Archive
DATELINE: July 15, 2024
LENGTH: 00:00:46
LOCATION: Cairo
CATEGORY: ECONOMY
SHOTLIST:
1. various of headquarters of Egypt's Finance Ministry
2. various of the Central Bank of Egypt
3. various of Egyptian banknotes
STORYLINE:
The Central Bank of Egypt (CBE) issued 75 billion Egyptian pounds (1.56 billion U.S. dollars) in treasury bills on Sunday through two offerings.
The first tranche is valued at about 35 billion Egyptian pounds (730 million dollars), according to official data, and matures in 182 days.
The second offering stands at 40 billion Egyptian pounds (about 834 million dollars) and will mature in 364 days.
The CBE issues treasury bills to finance budget deficits. It does so on behalf of the Ministry of Finance.
Recently, the CBE announced that the annual core inflation rate had fallen from 27.1 percent in May to 26.6 percent in June. This marks the lowest level of inflation since January 2023.
The Monetary Policy Committee of the CBE is scheduled to convene on Thursday to review key interest rates. It's the committee's fourth meeting of 2024 and the first meeting of fiscal year 2024/2025, which began on July 1.
Xinhua News Agency correspondents reporting from Cairo.
(XHTV)
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