The Central Bank of Egypt (CBE) said that remittances from workers abroad amounted to $7.5 billion in the second quarter, up from $4.6 billion, year-on-year.
The Central Bank added, in a statement Wednesday that remittances from Egyptians working abroad during the month of June increased for the fourth month in a row at a rate of 65.9% to record about $2.6 billion, compared to about $1.5 billion during the month of June 2023, and thus remittances more than doubled.
It is noteworthy that Egypt's net foreign reserves increased by about $105 million last July.
The Egyptian Central Bank said on Tuesday that foreign reserves rose to $46.489 billion in July from $46.384 billion in June.
read more
Follow the latest news on Google News
