Egypt sells $1.728bn in one-year dollar-denominated T-bonds auction

Egypt has sold 1.728 billion dollars in one-year dollar-denominated treasury bonds to local and foreign financial institutions in an auction, the Central Bank said Monday.

The average yield for the bills, which mature on Nov. 20, 2018, was 3.496 percent.

Appetite for Egypt’s domestic debt has grown since the central bank floated the pound currency in November 2016 as part of a deal for a $12 billion International Monetary Fund loan.