Egypt issues $1.12 bn in dollar denominated t-bills at avg yield of 2.23%

 Egypt's central bank said it sold $1.12 billion in one-year, dollar-denominated treasury bills at an average yield of 2.23 percent at its auction on Monday.

The minimum yield was 2.2 percent and the maximum yield was 2.25 percent, the bank said. Egypt last sold $971.3 million in one-year treasury bills at an auction in January at an average yield of 2.125 percent.

The government has mostly relied on the local money market to finance its deficit since early 2011, when an uprising unleashed a prolonged period of political and economic volatility that deterred many foreign investors. It plans to tap international investors for $1.5 billion in bonds this year

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