Remittances from Egyptian expats rose 5.7% in 11 months:CBE

Remittances from Egyptian expatriates increased  5.7 percent during the first 11 months of 2018, reaching $23.3 billion, compared to $22.1 billion in the same months of 2017, the Central Bank of Egypt (CBE) said.

During the first 10 months of 2018, remittances of expatriates hit $21.4 billion, compared to $19.8 billion in January-October period of 2017, with an increase of 8 percent.

Remittances are one of Egypt’s main foreign currency sources, which have been on the rise since Egypt floated its local currency in November 2016.