Remittances stood at $21.5bln during the period from July 2019 to March 2020
Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt March 8, 2016. Image used for illustrative purpose.
REUTERS/Mohamed Abd El Ghany
By Staff Writer, Arab Finance
Egypt - Remittances from Egyptian expatriates leveled up 8.5% to $23.4 billion during the nine-month period between July 2020 and March 2021, according to recent data by the Central Bank of Egypt (CBE).
Remittances stood at $21.5 billion during the period from July 2019 to March 2020.
On a yearly basis, Egyptian remittances increased 11% to $2.9 billion in March 2021, when compared to $2.6 billion in March 2020.
During the first quarter (Q1) of 2021, remittances stood at $7.85 billion, compared to $7.87 billion in the corresponding period of the prior year.
Egypt’s net international reserves rose to $40.468 billion in May 2021, compared to $40.343 billion in April, an increase of about $125 million.
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