Purchases of Egyptian T-bills hiked to EGP 10.2 bn by end of December 2016, compared to about EGP 226 mn at the beginning of 2016, MENA reports.

The increase is attributed to the float of the EGP in November 2016.  Assistant Undersecretary of the Governor of the Central Bank for Economic Research Nagla Nozahy said that during November 2016 and following the float, net purchases reached EGP 6.8 bn after excluding consumer value. This led the total outstanding balance of the investments of foreigners to arrive in Egyptian T-bills to reach EGP 7.8 bn in comparison with EGP 989 mn at the end of October 2016.