Foreign investments in Egypt’s T-bills fall at slowest pace since COVID-19

Foreign investments in T-bills slid to $7.016bln in May

  
Image used for illustrative purpose. An employee counts money at a bank in Cairo February 20, 2011.

Image used for illustrative purpose. An employee counts money at a bank in Cairo February 20, 2011.

REUTERS/Suhaib Salem

Cairo – Foreign investments in Egypt’s treasury bills (T-bills) declined in May at the slowest pace in three months since the coronavirus (COVID-19) crisis.

According to data by the Central Bank of Egypt (CBE), foreign investments in T-bills slid to $7.016 billion in May, compared to $7.4 billion in April.

Foreign investors sold T-bills worth $10.4 billion in March and $2.4 billion in April amid the growing concerns over the pandemic.

On 6 July, a source told the Middle East News Agency (MENA) that foreign inflows to the Egyptian market reached a daily record high of $440 million.

Source: Mubasher

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