Was the EGX the best- or the worst-performing bourse in 2016?
Was the EGX the best- or the worst-performing bourse in 2016? In absolute terms, the EGX was up 74.1% (see graph, above, or download our XLSX and check for yourself). But in USD terms, we’re the second-worst globally — behind Nigeria and just ahead of Ghana, Bloomberg reports.Keep things in local currency and we’re still not number one: Venezuela nudges us out of the top spot with a 114% gain, while the EGX30 would close the year in second spot and Peru would be third. The three best-performing bourses in the world, the business information service tells us, are Brazil, Kazakhstan and Peru. The EGX released last week its annual report, claiming to have been the world’s best-performing market in 2016.
One thing is unarguable, though: At the official exchange rate, the EGP was the world’s worst-performing currency last year, followed by Suriname’s currency and the Venezuelan Bolivar.