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Supervisor
Elham AbolFateh
AR
Wednesday 28 June 2017

Business

US report: Egypt Treasury bills trade created progress

Thursday 16/February/2017 - 11:12 AM
Sada El Balad
By Alaa Turki

A Bank of America report has highlighted progress made by the Egyptian economy due to successful trade in Egyptian Treasury bills.

The February insight report said the success indicates an increasing participation of foreign investment in Egypt.

The report added that the central bank of Egypt continued to accumulate foreign currency reserves.

The CBE said، in a press statement last week، that foreign investments in T-Bills amounted to almost EGP 11.5bn in January، excluding the value of the consumed bills.

Recently، Egypt has taken strict measures to reform the stumbling economy including the flotation of the local currency as well as lifting subsidy from oil products.

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