Egypt’s total foreign exchange receipts amounted to $126.7 billion in fiscal year (FY) 2020/2021, down by 1.7% from $128.9 billion in FY 2019/2020, according to the annual bulletin of foreign exchange statistics issued by the Central Agency for Public Mobilization and Statistics (CAPMAS) on July 28th

This decline was driven by the decrease in government receipts which reached $0.5 billion in FY 2020/2021.

Foreign cash payments totaled $129.5 billion in FY 2020/2021, versus $143.2 billion in the preceding FY.

Members of the Arab League led the inward foreign exchange receipts by 42.4% of total receipts, with Saudi Arabia on top with $23.5 billion in proceeds.

On the other hand, Europe represented 38.6% of total outward foreign exchange payments at a value of around $50 billion, headed by the UK with payments worth $11.8 billion.

Meanwhile, the value of cash transactions, including receipts and payments, with members of the Common Market for Eastern and Southern Africa (COMESA) rose by 53%, recording $2.1 billion in FY 2020/2021, versus $4.1 billion in the prior year.

However, the value of cash transactions with the European Union’s (EU) members dropped by 43.2% to $43 billion from $75.7 billion a year earlier.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).