$309M in foreign purchases in Egypt’s stock exchange: CBE

CAIRO – 16 June 2017: Net purchases of foreign investors in the Egyptian Exchange registered $ 309 million in the first nine months of fiscal year 2016/2017, according to official records.

The Central Bank of Egypt (CBE) said in its Balance of Payments report published Wednesday that the figure is significantly higher than $ 58.6 million recorded in the corresponding period in the previous fiscal year.

Total investments in securities and stocks in Egypt recorded a net profit of $ 7.8 billion in the first three quarters of FY 2016/2017, up from $ 1.7 billion in the same period in FY 2015/2016.

Foreign purchases in the treasury bonds hiked to $ 4.3 billion, compared to $ 3.6 billion in the aforementioned period.

With regards to Foreign Direct Investment (FDI), the total inflows increased 12.1 percent, standing at $ 10.8 billion in July-March period, compared to $ 9.6 billion in the same period last year.

Egypt’s Balance of Payments (BOP) registered a surplus $ 11 billion in first three quarters of the current fiscal year.

The surplus comes after a $ 3.6 billion in overall deficit in BOP in the period between July 2016 and the end of March 2017.

The rise was attributed to $ 24.6 billion net inflow in capital and financial account in that period. Falling by 12.4 percent, the current account deficit recorded $ 13.2 billion, compared to $ 15 billion in the same period last year.