COOKIE NOTICE

We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by closing this message box or continuing to use our site. To find out more, including how to change your settings, see our Cookie Policy

Egyptian remittances up by 10.6% bet. July 2020 and Jan 2021: CBE

During January 2021, remittances of Egyptians living abroad declined by $116.9 million to $2.54 billion, compared to $2.56 billion in the same month a year earlier

By: Business Today Egypt

Sun, Apr. 11, 2021

Egyptians abroad continue to send money back home in increasing numbers. According to the Central Bank of Egypt, remittances have increased 10.6 percent, $1.7 billion between July 2020 and the end of January 2021.

During January 2021, remittances of Egyptians living abroad declined by $116.9 million to $2.54 billion, compared to $2.56 billion in the same month a year earlier.

In early April, the Central Bank of Egypt (CBE) announced an increase in net foreign exchange reserves during the month of March.

The data revealed that net foreign exchange reserves rose from 40.201 billion in February to 40.337 billion in March.

CBE reported in March that remittances in the last 6 months of 2020 went up by 13.5 percent, totaling $15.5 billion, up from $13.7 billion a year earlier.