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Preliminary data showed an increase in remittances from Egyptians working abroad in fiscal year 2020/2021, at a rate of 13.2%, from around $ 3.7 billion, to reach its All-time high, registering around $ 31.4 billion, up from around $ 27.8 billion in the previous fiscal year 2019/2020.
Data released today by the Central Bank of Egypt on Wednesday indicated that remittances during the period April to June 2021 rose 29.6% to around $ 8.1 billion, compared with approximately $ 6.2 billion during the period April to June 2020.
Remittances increased in June 2021 at an annual rate of 15.5% to register about $ 2.9 billion, from about $ 2.6 billion in June 2020.
Remittances from Egyptians abroad represent an important source of foreign exchange in Egypt.
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