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Foreigners and Arabs Invest $463M in Local Bonds
Foreigners and Arabs have returned to purchase domestic debt instruments in Egypt's secondary market, with net acquisitions totaling $463.2 million (24.1 billion Egyptian pounds) after strong sales recorded the previous day due to geopolitical tensions and rising oil prices. Foreigners' net purchases amounted to $81.09 million in Treasury bills, while Arab investors bought $383 million, offsetting previous sales of about $397 million. Despite these purchases, the Egyptian pound continued to depreciate against the dollar, approaching the 52-pound level—the lowest in three months—amid little change in the yields of the new debt instruments issued by banks.
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