Hot money flows in Egypt recorded $702 million during September

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Arab and foreign transactions in the secondary market for Egyptian government debt recorded a net purchase of $702 million during the month of September, according to Egyptian Stock Exchange data.

According to the data, Arabs recorded net purchases of $1.528 billion during September, while foreigners recorded net sales of $826.5 million.

The price of the dollar fell in Egypt during trading today, Wednesday, with the US currency giving up the gains it recorded during the past days, as the pound benefited from positive flows of hot money in Egyptian debt instruments.

According to statistics prepared by Al Arabiya Business, the highest exchange rate for the US dollar at Abu Dhabi Islamic Bank was 52.10 pounds for purchase, compared to 52.20 pounds for sale.

While the lowest exchange rate for the US dollar at the Bank of Alexandria was 51.84 pounds for purchase, compared to 51.94 pounds for sale.

In the banks of the National Bank of Egypt, Egypt, the Egyptian Real Estate Bank, the Arab Bank, the Egyptian Gulf Bank, the Industrial Development Bank, the Kuwait National Bank, the Suez Canal Bank, the United Bank, the Arab African Bank, the Construction and Housing Bank, the Qatar National Bank, and the International Commercial Bank, the price of the dollar reached 51.94 pounds for purchase, compared to 52.04 pounds for sale.

At the Central Bank of Egypt, the exchange rate of the US dollar recorded 51.92 pounds for purchase, compared to 52.06 pounds for sale.