In an indication of the return of foreign investments to debt instruments in Egypt, sales of Egyptian 182-day treasury bills jumped to 51.85 billion Egyptian pounds ($1.75 billion) on Thursday, from 2.64 billion pounds last week.
Investors returned again a day after the pound’s latest sharp decline against the dollar.
Last Wednesday, the Central Bank allowed the pound to decline in banks against the dollar, reaching an all-time high in volatile transactions. This comes at a time when the black market is facing heavy losses, with demand subsided by importers and import companies, after the government and the Central Bank moved intensively to provide dollars to importers through the official market.
The data reviewed by “Al Arabiya.net” showed The rise of the Egyptian pound Against the dollar, to record the level of 29.6 pounds in yesterday’s trading, Thursday, after it crossed the level of 32 pounds on Wednesday.
Yesterday, the Central Bank of Egypt said that sales of 364-day treasury bills jumped to 30.40 billion pounds from 3.75 billion pounds last week.
The bank added that the average return on 182-day bills rose to 21.032% from 20.595%, while the average return on 364-day bills rose to 21.520% from 20.886%.
