Traders Seeking Refuge From Volatility Will Find It in Egypt
- Egyptian pound has been relatively immune to currency sell-off
- Nation’s bond yields are among the highest in emerging markets
Photographer: Shawn Baldwin/Bloomberg
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Egypt has transformed into a haven for debt investors from a crisis zone in less than two years.
The Egyptian pound, which the government allowed to float in 2016 to stave off an economic collapse, has been relatively immune to a rout that sent Turkish and Argentine currencies reeling to record lows. The pound also held its own even as Egyptian Treasury bills suffered outflows of at least $4 billion since March.