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المصري اليوم
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Hot money inflow boosts treasury by 22B pounds
The Egyptian currency market saw an increase in the dollar's exchange rate at the end of Wednesday's trading session, rising by 15 piastres to reach approximately 50.65 – 50.75 Egyptian pounds in the major government banks, compared to 50.50 – 50.60 pounds before the increase. At the same time, hot money flows—which include foreign and Arab investments in government debt instruments—amounted to about 22.2 billion pounds (roughly 438.7 million dollars) during Wednesday's session. Of this, foreigners accounted for approximately 21.898 billion pounds (around 431.4 million dollars), while Arab purchases exceeded 367 million pounds. These developments come amid increased demand for debt instruments, reflecting investor movements seeking profits from interest rates and exchange rate differences, amid market fluctuations and pressure on the exchange rate.
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