Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) said that foreign investments in Egyptian government securities increased by 13% in the past week to hit EGP 136 billion ($7.53 billion), Reuters reported on Wednesday.
In April, the head of the public debt department in the finance ministry, Sami Khallaf, said that foreigners’ purchases in the Egyptian debt instruments exceeded $1 billion since mid-March.
The Central Bank of Egypt (CBE) decided on 3 November 2016 to float the Egyptian pound and free the exchange rates for the local currency, as well as increasing interest rates by 300 basis points.
