December 26, 2017 / 9:53 AM / 9 months ago

Net 2017 foreign contributions to Egypt's bourse $414 mln

CAIRO, Dec 26 (Reuters) - Net foreign contributions to the Egyptian stock market reached 7.4 billion Egyptian pounds ($414 million) this year, the bourse said on Tuesday.

Foreign contributions since the country floated its currency in November 2016 totalled 13 billion pounds.

Egyptian equities took off after the float, further boosted by a $12 billion loan agreement with the International Monetary Fund, tied to economic reforms including easing capital controls and slashing subsidies.

$1 = 17.8750 Egyptian pounds Reporting by Ehab Farouk, Writing by Dahlia Nehme; editing by John Stonestreet

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