Foreign investments in local treasury bills increased by $343mln in June 2022: Egypt's CBE

The Central Bank of Egypt (CBE) revealed on Monday that foreign clients’ investments in local treasury bills increased to the equivalent of about EGP 157.057bn by the end of June 2022, compared to about EGP 150.537bn at the end of May 2022 — an increase of EGP 6.5bn.

Foreign investments in local treasury bills also recorded their highest level in June 2021 at about EGP 359.636bn, however, they declined after that due to successive global crises and the US Federal Reserve’s decision to raise interest rates, falling to their lowest level in May at about EGP 150.537bn.

The CBE said in its monthly report that the outstanding balances of local treasury bills amounted to about EGP 1.518 trillion at the end of June 2022, compared to about EGP 1.374 trillion at the end of May — an increase of about EGP 144bn.

Furthermore, the volume of 91-day treasury bills amounted to EGP 264.32bn, 182-day bills about EGP 122.625bn, 273-day bills about EGP 307.114bn, and 364-day bills about EGP 824.599bn.

The CBE added that public sector banks’ investments in treasury bills rose to about EGP 340.102bn at the end of June 2022, compared to EGP 296.312bn at the end of May, while private sector banks’ investments increased to EGP 364.685bn, compared to EGP 305.088bn.

Also, the investments of banks specialised in treasury bills recorded about EGP 76.193bn, compared to EGP 68.942bn, while the investments of foreign bank branches amounted to EGP 61.751bn, compared to EGP 50.581bn.

© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

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