CAIRO - Egypt didn't intervene to buy pounds to support the country's currency on Nov. 4 when the pound strengthened the most in almost six years against the US dollar, Central Bank Deputy Governor Hisham Ramez said. Part of it was foreigners buying treasury bills,” Ramez said in a telephone interview from Cairo. “Like all over the world, investors are buying in emerging markets. Corporates are also selling dollars.” He declined to give the value of treasury bill purchases by foreigners. The pound gained 1.1 per cent to 5.716 per dollar on Nov. 4.
