Remittances to Egypt reach $6.7 bln in first quarter of FY 2019/2020

Ahram Online , Tuesday 17 Dec 2019

A woman walks past a currency exchange bureau advertisement showing images of the U.S. dollar in Cairo, Egypt, December 17, 2019. REUTERS

Remittances from Egyptian expatriates increased in the first quarter of the 2019/2020 fiscal year to reach $6.7 billion, the Central Bank of Egypt said on Tuesday.

Remittances increased by 13.6 percent year on year in the quarter, up from $5.9 billion in the first quarter of the 2018/2019 fiscal year. 

Remittances are one of the country’s main sources of foreign currency.


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