Foreign Investments in Egypt's T-bills Hit $38.2 Billion

Foreign investments in Egyptian treasury bills rose by about $2 billion in October to $38.2 billion, according to data from the Central Bank of Egypt (CBE).

The Central Bank said that foreign holdings in treasury bills include guarantees worth $18.95 billion as part of external financing operations.

According to data, investments in treasury bills have increased by about $24.6 billion since the flotation through the primary and secondary markets.

Foreign investments in government bills were limited to $13.6 billion in February, the month before the pound was devalued, and the value of the Hikma deal began to flow into Egypt.

According to data from the Egyptian Stock Exchange (EGX), foreign transactions recorded a net purchase of treasury bills and bonds amounting to $18.2 billion during the past year.