
Egypt's Central Bank, acting for the Finance Ministry, sold EGP 137.5 billion in local treasury bills on Thursday, 25% above its EGP 110 billion target. Foreign investor demand and lower required yields supported the auction; average yields fell to 25.25% for six-month bills and 26.03% for one-year bills.
Strong foreign demand for Egyptian debt can support capital inflows and the pound, potentially easing the local-currency cost of imported feed and commodities. The immediate implications for agricultural prices are indirect.
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