Cairo – Mubasher: Foreign investments in the Egyptian Exchange (EGX) rose to $309 million in net purchases during the first nine months of the current fiscal year, compared to $58.6 million in the same period of the previous year, according to the Central Bank of Egypt’s (CBE) data.
Investments in the Egyptian securities market represented net cash inflows of around $7.8 billion between July 2016 and March 2017, compared to $1.5 billion in the first nine months of the previous year, the CBE’s balance of payments report showed.
Foreign investments in the EGX recorded net purchases of $331.7 million in the first half of FY16/17, up from $120.7 million in the corresponding period of 2015/2016, according to previous data.
Egypt’s issues of foreign currency denominated bonds amounted to around $3.9 billion in the third quarter of the current fiscal year.
Meanwhile, foreigners’ purchases of the government’s treasury bonds increased to $4.3 billion in the nine months through March 2017, of which $3.6 billion were recorded in the third quarter.
The Egyptian balance of payments achieved an overall surplus of $11 billion in the first three quarters, versus a deficit of $3.6 billion in the year-ago period.
