The Finance Ministry auctioned on Monday treasury bonds at a total value of EGP two billion.

In an online statement, the ministry said it sold EGP 1.5 billion of 3-year bonds (maturing on September 6, 2019). The average yield was 18.573 percent, it said, adding it accepted bids at rates between 18.65% and 18.5%.

It also sold EGP 500 million of 7-year bonds (maturing on August 9, 2023) that had a coupon of 18.373%. The yield ranged from 18.4% to 18.35%. 

The Central Bank of Egypt auctions T-bonds on behalf of the Finance Ministry.