Foreign investors’ holdings in T-bills reach USD 5.8 bn as of April

Foreign investors have increased their holdings in Egyptian treasury bills to USD 5.8 bn as of end of April, up from less than USD 1 bn before the EGP was floated in November, Finance Minister Amr El Garhy told President Abdel Fattah El Sisi in a meeting on Saturday. At the current exchange rate, this figure would be higher than the EGP 91.8 bn that we noted at the end of April. Foreigners also invested USD 134 mn in Egypt’s equity markets in April alone, according to an Ittihadiya statement picked up by Al Borsa.