Cairo – Mubasher: Egypt has increased its holdings of the US Treasury bonds by 4.3% year-on-year (YoY) or around $93 million in July, marking its highest level since October 2018.

Egypt's investments in the US debt instruments rose to $2.238 billion in July 2020 from $2.145 billion in the same month of 2019, according to the latest data by the US Department of the Treasury.

On a monthly basis, Egypt's holdings of the US Treasury bonds jumped by $3 billion in July, compared to $2.235 billion in June.

Globally, Japan has raised its investments in the US debt instruments by 2.53% MoM to $1.293 trillion in July, compared to $1.2613 trillion in June.

Noteworthy to mention that by the end of July 2020, the Central Bank of Egypt (CBE) announced that Egypt’s net international reserves grew by $113 million to $38.314 billion.