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Egypt cancels $1bn treasury bills auction

Cairo, September 11, 2011

Egypt's central bank cancelled auctions for 91-day and 273-day  treasury bills worth 6 billion Egyptians pounds ($1 billion), the Finance Ministry said on its website on Sunday.

The bank gave no reason for the cancellation, which is not  uncommon.

The central bank auctions the T-bills on behalf of Egypt's  Finance Ministry, which had offered 91-day bills worth 2.5  billion pounds and 273-day bills worth 3.5 billion pounds.

It had planned to issue the T-bills on September 13.-Reuters




Tags: Egypt | Auction | cancel | treasury bill |

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