Egypt increases investments in US bonds to highest level since October 2018

Egypt has posted its holdings of the US Treasury bonds by 4.3 percent year-on-year (YoY) or around $93 million in July, marking its highest level since October 2018, according to the latest data by the US Department of the Treasury.

Egypt’s investments in the US debt instruments rose to $2.238 billion in July 2020 from $2.145 billion in the same month of 2019, according to the latest data by the US Department of the Treasury.

On a monthly basis, Egypt’s holdings of the US Treasury bonds jumped by $3 billion in July, compared to $2.235 billion in June.

Globally, Japan has raised its investments in the US debt instruments by 2.53% MoM to $1.293 trillion in July, compared to $1.2613 trillion in June.

Noteworthy to mention that by the end of July 2020, the Central Bank of Egypt (CBE) announced that Egypt’s net international reserves grew by $113 million to $38.314 billion