Egypt’s sovereign USD bonds rise after interest rate hike

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Egypt’s USD bonds due for repayment in 2047 jumped by 2.6 cents, reaching 82.3 cents, the data revealed

Staff Writer, Arab Finance

March 6, 2024

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Egypt’s sovereign dollar-denominated bonds climbed by over 2 cents after the Central Bank of Egypt (CBE) hiked interest rates by 600 basis points (bps) and the Egyptian pound hit a fresh low record against the US dollar, Reuters reported, citing Tradeweb data.

Egypt’s USD bonds due for repayment in 2047 jumped by 2.6 cents, reaching 82.3 cents, the data revealed.

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