Foreign investors pour $925 mln into Egypt since Wednesday – Reuters.com

Foreign investors pour $925 mln into Egypt since Wednesday – Reuters.com

CAIRO, Jan 16 (Reuters) - Foreign investors transferred more than $925 million dollars into the Egyptian foreign exchange market in the three days since its currency sharply depreciated last week, Egypt's central bank said in a statement on Monday.

The Egyptian pound weakened to about 32 to the dollar from 27.60 at the open on Wednesday before rebounding to 29.61 pounds by end-Monday.

Additional foreign currency from local sources, remittances from Egyptians working abroad and tourism also flowed into the market over the past three business days, the central bank statement added.