Foreign investments in gov’t T-Bills register $18 bln in October: CBE

Foreigners’ investments in government treasury bills registered a new record high of about $18.849 billion at the end of October against $17.467 billion at the end of September with an increase of $1.382 billion, according to the Central bank of Egypt (CBE).

Foreigners’ investments in government treasury bills registered a new record high of about $18.849 billion at the end of October against $17.467 billion at the end of September with an increase of $1.382 billion, according to the Central bank of Egypt (CBE).

Finance Minister Amr Al-Garhy said earlier in November that total foreign investments in treasury bills is expected to reach about $20 billion by the end of 2017.

Foreigners have been heavily invested in government debt instruments since the local currency was floated on November 2016.

The same report added that total lending in Egyptian banks rose by 13 billion Egyptian Pounds at the end of September reaching 1.414 trillion pounds against 1.401 Pounds trillion at the end of August.

Deposits rose to 3.176 Pounds trillion at the end of September against 3.124 trillion Pounds at the end of August, an increase of 52 billion Pounds.

It also noted that total investments of Egyptian banks in government treasury bills rose to LE 564.349 billion by the end of October comparing to LE549.96 billion at the end of September, an increase of LE 14.4 billion.