Net foreign contributions to the Egyptian stock market has reached EGP 7.4 bn (USD 414 mn) this year, Reuters reports.

Foreign contributions since the country floated its currency in November 2016 totaled EGP 13 bn, according to a bourse statement.

Egyptian equities took off after the float, further boosted by a USD 12 bn loan agreement with the International Monetary Fund, tied to economic reforms including easing capital controls and slashing subsidies.