The median overnight interbank lending rate on the Egyptian pound was steady on Tuesday at 8.75 percent versus 8.751 percent on Monday in the absence of significant central bank auctions, traders said.
The central bank was auctioning off 10 billion Egyptian pounds of regular 7-day deposits, but those were replacing existing maturities and had little effect on market rates. "There is nothing new," one dealer said. Interbank overnight rates have hovered between 8.75 and 8.76 percent for the past eight weeks and between 8.75 and 8.8 percent since April.