September 23, 2019 / 8:21 AM / a month ago

Egyptian dollar bonds slip on protests, pound weakens in FX forward market

LONDON, Sept 23 (Reuters) - Egyptian dollar bonds issued by the government slipped on Monday and the currency slipped in forward markets after protests erupted in several cities over the weekend.

The 2049 dollar issue fell 3.1 cents to 106.1 cents in the dollar, the lowest in a month, while the 2040 issue dropped 1.9 cents to 96.7 cents in the dollar, according to Refinitiv data.

In non-deliverable forward (NDF) markets, the Egyptian pound weakened to the U.S. dollar, with one year NDFs pricing the pound at 18.36 to the dollar, versus a spot exchange rate of 16.26 pounds. (Reporting by Tom Arnold; editing by Sujata Rao)

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