Remittances from Egyptian expats surge 65.5% YoY in August – CBE

By Yomna Yasser On Nov 11, 2024

Egypt Central Bank of Egypt's — The Central Bank of Egypt's (CBE) headquarters in the new administrative capital (CBE Photo)

Remittances from Egyptian expats recorded a new high in August 2024, increasing by 65.5 per cent year-on-year to approximately $2.6 billion, a central bank data showed on Monday. This marks the sixth consecutive month of growth.

In August 2023, remittances recorded $1.6 billion.

On a monthly basis, remittances rose 76.2 per cent in August compared to a previous month.

Year-to-date, remittances from Egyptians overseas inched up by 36.4 per cent, reaching $18.1 billion in the first eight months of 2024, compared with $13.3 billion in the same period in 2023.

Attribution: Emailed statement from CBE

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