PHOTO
An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Image used for illustrative purpose. Mohamed Abd El Ghany
Cairo – Remittances of Egyptians living abroad increased by $3.7 billion or 13.2% to a record $31.4 billion in fiscal year (FY) 2020/2021, compared to $27.8 billion a year earlier, according to initial data.
Over the April-June period, remittances of expatriates surged by 29.6% to $8.1 billion, compared to $6.2 billion in the year-ago period, the Central Bank of Egypt (CBE) said in a statement on Wednesday.
As for June, remittances rose by 15.5% on an annual basis to reach $2.9 billion from $2.6 billion in June 2020.
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