Egyptian expat remittances increase to $4.4 bln: CBE

Doaa A.Moneim , Monday 4 Nov 2019

The Central Bank of Egypt (CBE) announced on Monday that remittances from Egyptians expatriates have increased by 5.5 percent ($227.1 million) in July and August 2019, recording $4.4 billion, up from $4.2 billion in the same period in 2018.

The CBE previously announced that remittances from Egyptians expatriates had increased by 15 percent in May 2019 compared to the same period in 2018, recording $3 billion up from $2.6 billion in May 2018.

Egypt’s remittances notably jumped after about a year since the flotation of the Egyptian pound, which was implemented in November 2016, rising by 18.4 percent, recording $26.4 billion.

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