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Egypt dollar bonds jump after central bank ramps up rates, currency slides
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Egypt dollar bonds jump after central bank ramps up rates, currency slides
Mar 6, 2024 12:28 AM

LONDON, March 6 (Reuters) - Egypt's international bonds

jumped by more than 2 cents after the central bank ramped up

rates by 600 basis points and the currency slipped to a fresh

record low, signalling the start of a long awaited devaluation.

Longer-dated bonds enjoyed the biggest gains, with the 2047

bond enjoying the biggest gains, up 2.6 cents at 82.3 cents,

Tradeweb data showed.

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