Foreign investment in Egyptian securities jumps to $18.8bn in October

Foreign investment in Egyptian securities rose to $18.8 billion in October, a year after the central bank floated the pound currency, a Finance Ministry official told Reuters on Thursday.

Egypt floated its pound currency on November 3 last year and the central bank has since hiked key interest rates by 700 basis points, driving up foreign appetite for domestic debt.

Source: Reuters

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