Egyptian remittances abroad 21.4 billion dollars in 8 months

Today, Thursday, the Deputy Governor of Economic Research at the Central Bank of Egypt, Dr. Adel Abdel Azim, said that remittances from Egyptians working abroad recorded an increase of 11.6% during August 2021, to record about 2.7 billion dollars, compared to about 2.4 billion dollars. August 2020.

He added in a statement, that in Thus, total transfers during the period from January to August 2021 amounted to approximately $ 21.4 billion, an increase of approximately $ 2 billion, at a rate of 10.4% compared to the period from January to August 2020.

Remittances from Egyptians working overseas increased in the January-July period of questyear 2021 at a rate of 10.2%, about $ 1.7 billion, to record about $ 18.7 billion, compared to about $ 17.0 billion in the January-July 2020 period.

The policies adopted by the Central Bank of Egypt have boosted liquidity in dollars from abroad in the official market and in bank coffers. The cessation of currency trading and dollarization operations meant that remittances from Egyptians working abroad were destined for official banks, which prompted them to record historical levels and record.

The Central Bank of Egypt announced, in earlier, that preliminary data showed an increase in remittances from Egyptians working overseas during fiscal year 2020/2021, which revealed positive data. Remittances increased by 13.2% to approximately $ 3.7 billion.

It said remittances hit their all-time high, recording about $ 31.4 billion during fiscal year 2020/2021, compared to about $ 27.8 billion during fiscal 2019/2020.

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