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.
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.