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المصري اليوم
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Iran-US tensions: week’s hot money flow
During the week, Egypt's markets experienced a mixed movement of hot money, with Arab capital inflows totaling approximately $18.1 million, contrasted by foreign outflows of $45 million, resulting in a net withdrawal of $27 million. At the same time, the dollar's exchange rate against the Egyptian pound decreased by 2.6%, reaching about 49.75 pounds in the largest banks, amid signs of a reduction in tensions between Washington and Tehran and the potential for a diplomatic breakthrough. Additionally, the Egyptian stock market saw strong gains, with the EGX 30 index rising by 2.31%, adding 167 billion pounds to its market capitalization, which reached 4.103 trillion pounds. Expectations are for further improvement as positive news regarding international relations continues.
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