By: Heba El-Kordy
Cairo – Mubasher: Egypt’s holdings of US Treasuries increased by $99 million or 4.7% year-on-year (YoY) in February for the fifth month in a row.
The most populous Arab nation’s holdings of US debt instruments reached $2.207 billion last February, hitting its highest level since October 2018, compared to $2.108 billion in the corresponding month a year earlier, data by the US Department of the Treasury showed.
Month-on-month (MoM), the country’s holdings of US Treasuries inched up from $2.192 billion in January.
It is noteworthy that Egypt’s net foreign reserves levelled up by $53 million to $45.509 billion at the end of February, compared to $45.456 billion at the end of January, the Central Bank of Egypt (CBE) previously revealed.
The GCC region’s holdings of US Treasuries retreated to $278.89 billion in February from $278.912 billion a month earlier.
Globally, Japan was the top foreign holder of US Treasuries with $1.268 trillion in February from $1.212 trillion a month before, followed by China with $1.092 trillion, compared to $1.078 trillion in January.
