The Egyptian pound value of one-year T-bills sold on Thursday was significantly higher than at weekly auctions since the start of the year, when the average yield had been between 26.607% and 29.913%.

The pound has continued to depreciate marginally against the US dollar over the past week and the exchange rate on Friday morning at the Central Bank of Egypt was 50.82 pounds per US dollar.

CAIRO, March 6 (Reuters) - Egypt's central bank said it sold 3 billion Egyptian pounds ($1.1 billion) in domestic treasury bills on Sunday and that average yields had risen. The average yield on 3 ...

Egypt secured an extra $5 billion in IMF loans on Wednesday, the two sides said, after the central bank hiked interest rates and allowed the pound to plunge by nearly 40 percent.

The central bank sold all 2 billion pounds in 91-day T-bills it offered, with the average yield climbing to 11.097 percent from 10.941 percent at an auction last week. ($1=5.8876 Egyptian Pound) ...

Georgieva said in early October that Egypt would “bleed” precious reserves unless it devalues again. The pound is trading some 40% weaker on the local black market for US dollars than at banks.

The currency weakened to beyond 50 Egyptian pounds to the dollar - far beyond previous records - from about 30.85 pounds, a level Egypt has for months tried to defend. It closed at 49.4 to the dollar.

Egypt ’s credit outlook was cut to negative from stable by Moody’s Investors Service while the pound’s weakening on the black market accelerated, in a sign of the country’s worsening ...

Arab Gulf investors also appear reluctant to buy stakes in the state and army-owned companies Egypt vowed to offer as part of the IMF deal as it signals its intention to privatise more than three ...