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Egypt investors using arbitrage to get US$
Doing so means guaranteed losses but many are so desperate to get US dollars that they're willing to swallow the cost
Add BT as a preferred sourcePublished Tue, May 17, 2016 · 09:50 PM
Cairo
THE hot trade in Egypt's stock market is a sure thing - a guaranteed money-loser.
Clients have been snapping up shares of Commercial International Bank Egypt on the Cairo market, paying in Egyptian pounds, only to turn around and sell them in London for dollars at a loss of as much as 30 per cent, brokers say.
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