Foreign Investments in Egyptian Treasury Bills Soar to .1 Billion in March
Data from the Central Bank of Egypt (CBE) has revealed a significant increase in foreign investments in Egyptian treasury bills during the month of March, reaching a total of approximately .1 billion, equivalent to EGP 1.121 trillion.
According to the latest CBE data released on Wednesday, foreign investments in treasury bills surged to .7 billion by the end of March, up from .6 billion at the end of February.
This surge in foreign investments comes after the Central Bank made the decision in March to liberalize the exchange rate. This move followed the conclusion of the Ras El Hekma deal with the UAE, valued at billion, as well as the transfer of foreign currency debts worth billion to the Egyptian pound.
The increase in foreign investments in Egyptian treasury bills is a positive sign for the country’s economy and reflects growing confidence in the Egyptian market. This development is crucial for attracting more foreign investors and boosting economic growth in the country.