Remittances from Egyptian expats record $23.3B in 1st 11 months of 2018

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Tue, 29 Jan 2019 - 11:33 GMT

FILE - CBE

FILE - CBE

CAIRO – 29 January 2018: Remittances from Egyptian expatriates rose 5.7 percent during the first 11 months of 2018, reaching $23.3 billion, compared to $22.1 billion in the same months of 2017, the Central Bank of Egypt (CBE) said.

During the first 10 months of 2018, remittances of expatriates hit $21.4 billion, compared to $19.8 billion in January-October period of 2017, with an increase of 8 percent.

Remittances from Egyptian expats record $21.4 in 1st 10 months of 2018

CAIRO - 22 December 2018: Remittances from Egyptian expatriates rose 8 percent during the first 10 months of 2018, reaching $21.4 billion, compared to $19.8 billion in the same months of 2017, the Central Bank of Egypt (CBE) said.



CBE announced earlier that remittances from Egyptian expatriates rose 1.5 percent during the first quarter of fiscal year 2018/2019, reaching $5.9 billion, compared to $5.8 billion in the same quarter of 2017/2018.

Moreover, remittances from Egyptian expatriates increased by about $4.6 billion (21.1 percent) during fiscal year 2017/2018.

Remittances from Egyptian expatriates increased to $26.4 billion since floating the Egyptian pound in November 2016 and until November 2017, compared to $22.3 billion in the same period of the previous year, data showed.

Remittances are one of Egypt’s main foreign currency sources, which have been on the rise since Egypt floated its local currency in November 2016.

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