Foreigners exit from Egypt’s bourse by $500M: CBE governor

CAIRO – 30 March 2020: Foreigners recorded outflows of $500 million (LE 7 billion) from the Egyptian Stock Exchange (EGX) during the last period, Governor of the central Bank of Egypt (CBE) Tarek Amer said Sunday.

Amer added during a phone call to the privately owned Sada al-Balad TV channel that CBE’s LE20 billion-support to EGX came as a result of these exits, which pushed the bourse upward in a time all global exchanges were losing.

He stressed that all global stock exchanges lost between 70 to 90 percent of their capital, but thanks to the measures taken by the state, the Egyptian Stock Exchange conditions witnessed huge improvement.

President Abdel Fatah El-Sisi announced on Mar. 22, that CBE allocated LE 20 billion to the Egyptian Stock Exchange as part of measures taken to curb the effect of coronavirus.
 

Egypt's central bank supports EGX by LE20B to curb Coronavirus effect

CAIRO - 22 March 2020: The central Bank of Egypt (CBE) allocated LE 20 billion to the Egyptian Stock Exchange as part of measures taken to curb the effect of coronavirus, President Abdel Fatah El-Sisi announced Sunday. This came in a meeting with a number of women on the occasion of Mother's Day.

The Egyptian Exchange (EGX) ended Sunday in a semi-collective rise. However, it lost LE 1.9 billion of market capitalization, amid Arab and foreign selling.

EGX ends Sunday on mixed note, market cap. loses LE1.9B

CAIRO - 29 March 2020: The Egyptian Exchange (EGX) ended Sunday in a semi-collective rise. However, it lost LE 1.9 billion of market capitalization, amid Arab and foreign selling. The benchmark EGX 30 dipped 1.54 percent, or 152.8 points, to close at 9,760.18 points.