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