Cairo - Mubasher: Foreign investors’ net purchases in the Egyptian Exchange (EGX) jumped to EGP 8.7 billion in the first quarter of 2018, compared to EGP 3.1 billion in Q4-17, according to the bourse’s chairman.
Mohamed Farid said that foreign investments in both stocks and bonds surged since November 2016, when the Central Bank of Egypt (CBE) float the local currency, to March 2018, reaching EGP 25 billion, up from EGP 1.6 billion prior to freeing exchange rates. This an increase of more than 1,460%.
Average traded values rose to EGP 1.6 billion, from EGP 530 million before November 2016, increasing by around 200%, Farid added.
