CAIRO: The Central Bank of Egypt (CBE) said banks will be closed on Thursday, which has been announced an official holiday on the occasion of the anniversary of the July 23 Revolution, state-owned MENA reported Wednesday.
On Wednesday, the CBE on behalf of the Ministry of Finance auctioned 6 billion EGP ($766.18 million) in treasury bills, instead of Thursday, according to the bank’s official website.
Egypt’s central bank usually holds T-bills auctions on Sunday and Thursday every week. Meanwhile, the bank had to change its schedule this week, cancelling Sunday’s auction on the three-day Eid al-Fitr holiday.
Also, the bank cancelled its foreign exchange auction scheduled for Thursday, but is not to be off-set like the T-bills’ one.
The Egyptian Stock Exchange has also announced that it will shut on Thursday, and trading will be resumed on Sunday, July 26, according to a Tuesday statement.