Foreign holdings of Egyptian treasury bills increase for third month in row

Foreign holdings of Egyptian treasury bills increased up for the third consecutive month in August, edging up to $ 13.3 bn from $10.8 bn in July, according to the CBE’s latest monthly statistical bulletin.

Net inflows increased in June for the first time since February, and continued on an upward trajectory in July, suggesting foreign investors have chilled out after having exited Egypt during a wider flight from emerging markets early during the pandemic.