Remittances from Egyptians abroad were $27.8bln in FY 2019/20 -central bank

Remittances fell 10.5% year-on-year in the April-June quarter,

  
A customer exchanges U.S. dollars to Egyptian pounds in a foreign exchange office in central Cairo, Egypt, March 7, 2017. Image used for illustrative purpose.

A customer exchanges U.S. dollars to Egyptian pounds in a foreign exchange office in central Cairo, Egypt, March 7, 2017. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

CAIRO- Remittances from Egyptians working abroad amounted to $27.8 billion in the 2019-20 financial year, up from $25.2 billion a year prior, the central bank said in a statement on Wednesday.

A key source of foreign currency for Egypt, remittances fell 10.5% year-on-year in the April-June quarter, amounting to $6.2 billion compared with $6.9 billion a year earlier.

(Reporting by Nadine Awadalla; Editing by Catherine Evans) ((Nadine.Awadalla@thomsonreuters.com;))

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