Net purchases by Arab and foreign investors in Egypt’s secondary government debt market reached about $1.5 billion over three days, after their transactions recorded net buying worth $479 million on Thursday, according to data from the Egyptian Exchange.
Arab and foreign purchases over three days
Transactions by Arab and foreign investors recorded net buying of $244 million on Wednesday, along with net buying worth $775.4 million on Tuesday, marking a reversal of last week’s exit wave.
Transactions by Arab and foreign investors in the secondary government debt market had recorded net selling worth $513 million last week.
Dollar resumes rise against the pound
The dollar rose against the Egyptian pound in Thursday’s trading, ending a three-day losing streak, as the US currency climbed globally to a two-month high amid expectations that monetary tightening in the United States will continue.
SAIB Bank posted the highest dollar exchange rate, at 51.75 pounds to buy and 51.85 pounds to sell, while Abu Dhabi Commercial Bank posted the lowest rate, at 50.82 pounds to buy and 50.92 pounds to sell.
Dollar rates at Egyptian banks
The dollar was priced at 51.73 pounds to buy and 51.83 pounds to sell at the National Bank of Egypt, Banque Misr, Arab International Bank, Commercial International Bank, NEXT, Alexbank, EG Bank, Housing and Development Bank, Industrial Development Bank, Suez Canal Bank, United Bank, Arab African International Bank, Egyptian Real Estate Bank and Kuwait Finance House.
At the Central Bank of Egypt, the dollar exchange rate was 51.71 pounds to buy and 51.85 pounds to sell.
