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Egypt’s Pound Jumps Most in Two Years as Fund Flows Accelerate
CAIRO (Capital Markets in Africa) – The Egyptian pound advanced the most in almost two years as fund flows into the local Treasury bills market accelerated amid improving risk appetite across emerging markets. The currency, which EFG Hermes says has become more sensitive to fund flows after the central bank ended a repatriation mechanism for foreign investors late last year, rose 1.5 percent to 17.6287 against the dollar, its biggest gain since February 2017, according to prices…
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