BTC will double in value and hit USD 100k by early 2022, a Standard Chartered research team is predicting, Reuters reports. “BTC may become the dominant peer-to-peer payment method for the global unbanked in a future cashless world,” the team said in a note sent to clients. BTC’s value sat steady yesterday after a major selloff on Tuesday triggered by El Salvador’s adoption of the tokens as a legal tender, which left the cryptocurrency down 10%.

EGX30

11,135

+0.4% (YTD: +2.7%)

USD (CBE)

Buy 15.66

Sell 15.76

USD at CIB

Buy 15.66

Sell 15.76

Interest rates CBE

8.25% deposit

9.25% lending

Tadawul

11,455

+0.4% (YTD: +31.8%)

ADX

7,771

+0.7% (YTD: +54.0%)

DFM

2,906

-0.1% (YTD: +16.6%)

S&P 500

4,514

-0.1% (YTD: +20.2%)

FTSE 100

7,095

-0.8% (YTD: +9.8%)

Brent crude

USD 72.60

+1.3%

Natural gas (Nymex)

USD 4.92

+7.5%

Gold

USD 1,791.60

-0.1%

BTC

USD 46,655

-0.6% (as of midnight)

THE CLOSING BELL-

The EGX30 rose 0.4% at yesterday’s close on turnover of EGP 1.4 bn (81% below the 90-day average). Egyptian investors were net buyers. The index is up 2.7% YTD.

In the green: Speed Medical (+2.6%), Orascom Development Egypt (+2.6%) and Oriental Weavers (+2.5%).

In the red: Raya (-2.7%), Sidi Kerir Petrochemicals (-1.5%) and CIRA (-1.2%).

Asian markets are up/down in early trading this morning and futures suggest xx

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