Egypt net int’l foreign reserves hit $48.7 bln in June: CBE

Doaa A.Moneim , Monday 7 Jul 2025

Egypt’s net international foreign reserves (NIRs) increased by $174 million at the end of June to $48.7 billion, the highest level in decades, up from $48.526 billion recorded in May, the Central Bank of Egypt (CBE) announced on Monday.

An employee counts U.S. dollars in a foreign exchange office in central Cairo, Egypt. AFP

The $174 million increase reflects continued improvements in the country’s external position, supported by a sharp rebound in remittance inflows and a strong performance in tourism and exports.

In June, the CBE announced a record surge in remittances from Egyptians working abroad.

During the first 10 months of the current fiscal year (July 2024 – April 2025), remittances soared by 77.1 percent to $29.4 billion, compared to $16.6 billion during the same period a year earlier.

Since the start of 2025, remittance inflows into the country have jumped by a total of $1.2 billion. In January, NIRs recorded $47.3 billion.

The momentum continued into 2025, with remittances between January and April rising 72.3 percent year-on-year to $12.4 billion, up from $7.2 billion.

On a monthly basis, April 2025 saw a 39 percent annual increase, with inflows reaching $3 billion, compared to $2.2 billion in April 2024.

Increasing the NIRs is one of the key tools to hedge against major external shocks, such as a sudden exit of foreign investors and investments. For example, in 2022, Egypt was influenced by the implications of the Russian-Ukrainian war and the global monetary tightening policies.