Foreign investment in Egyptian securities rises to $18 bln in Sept

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Traders work near the exchange bell at Egypt's Stock Exchange in Cairo July 3, 2013. Cairo's benchmark dipped 0.3 percent, slipping off a three-week high and extending 2013 losses to 9 percent. Bourse data showed that foreign investors were sellers but Egyptians remained net buyers on hopes a military intervention would put an end to the Islamist president's rule. REUTERS/Mohamed Abd El Ghany (EGYPT - Tags: BUSINESS)

CAIRO (Reuters) – Foreign investment in Egyptian securities rose to $18 billion in September, a Finance Ministry document showed.

Appetite for Egypt’s domestic debt has increased since the central bank floated the pound currency and hiked key interest rates by 700 basis points since November, but average yields on treasury instruments have come down in recent weeks as foreign currency liquidity has improved.

Reporting by Ehab Farouk; Writing by Arwa Gaballa; Editing by Ahmed Aboulenein

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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