This marks a staggering 72.4 % increase, equivalent to an additional $13.7 billion, compared to the same period a year earlier.
The Central Bank of Egypt (CBE) announced that remittances from Egyptians working abroad reached an unprecedented record of approximately $32.6 billion during the period from March 2024 to February 2025.
This marks a staggering 72.4 % increase, equivalent to an additional $13.7 billion, compared to the same period a year earlier.
According to the CBE statement, remittance inflows in February 2025 exceeded $3 billion for the second consecutive month, more than double the $1.3 billion recorded in February 2024. This marks the highest monthly inflow ever recorded during this time of year.
The surge follows a major monetary policy shift in March 2024, when the CBE allowed the Egyptian pound to depreciate by nearly 40% against the US dollar, reaching around 50 EGP per dollar.
The move was part of a broader shift to a flexible exchange rate policy, driven by market supply and demand dynamics.
