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CBE: Remittances of Egyptian Expats Have Amounted to $29.1bn Since Liberalization of Exchange Rate
Source: 2/11/2018

Remittances of Egyptian expats have amounted to 29.1 billion dollars since the liberalization of the exchange rate in November 2016 until December 2017, the Central Bank of Egypt (CBE) said .

This represents a 19.2-percent increase on the same period before the flotation decision, the CBE said in a statement.

Egyptian remittances during December 2017 alone reached 2.6 billion dollars up from two billion in December 2016, the statement noted.

This rise reflects Egyptians' confidence in the banking system in their country, it added.

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