24 Hrs
Source:
المصري اليوم
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Hot money flows boost dollar beyond 52 pounds
Today’s trading session on the Egyptian Stock Exchange witnessed a surge of hot money investments from foreign and Arab investors, with inflows amounting to approximately 4.870 billion Egyptian pounds (93.4 million USD). Additionally, the US dollar’s price increased in Egypt’s largest government banks, surpassing the 52-pound mark, reaching 52.02 pounds for buying and 52.12 pounds for selling—a rise of 36 piasters. This was accompanied by increased investor demand for government debt instruments. Meanwhile, the yields on 10-year U.S. Treasury bonds rose to 5.2087%, amid concerns over inflation and rising oil prices.
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