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Egyptian dollar bonds drop on protests, pound weakens

by Amwal Al Ghad English
written by Amwal Al Ghad English
Egypt's currency Egyptian pound dollar
Egyptian dollar bonds issued by the government slipped on Monday and the currency slipped in forward markets after protests erupted in several cities over the weekend.
The 2049 dollar issue fell 3.1 cents to 106.1 cents in the dollar, the lowest in a month, while the 2040 issue dropped 1.9 cents to 96.7 cents in the dollar, according to Refinitiv data.
In non-deliverable forward (NDF) markets, the Egyptian pound weakened to the U.S. dollar, with one year NDFs pricing the pound at 18.36 to the dollar, versus a spot exchange rate of 16.26 pounds.
Source: Reuters

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