Remittances from Egyptians working abroad jumped to an all-time high by the end of the fiscal year 2021/2020.
The Central Bank of Egypt said in a statement yesterday, Wednesday, that the remittances of Egyptians working abroad recorded 31.4 billion dollars at the end of the last fiscal year, an increase of 13.2%, and a value of 3.7 billion dollars. .
The data also showed an increase in remittances from Egyptians working abroad during the period from April to June 2021 by 29.6%, to record about $8.1 billion, compared to about $6.2 billion during the period. From April to June 2020.
Transfers also increased during June 2021 at an annual rate of 15.5%, to record about $2.9 billion, compared to about $2.6 billion in June 2020.
Remittances from Egyptians working abroad during the fiscal year 2019/2020 stabilized at $27.8 billion.
Egypt's foreign exchange reserves rose at the end of July 2021 to $40.609 billion, compared to $40.584 billion at the end of last June, an increase of $25 million, according to data issued by the Central Bank of Egypt. .
Remittances have continued their recovery since the liberalization of the exchange rate in November 2016 until now, to continue to strengthen foreign exchange, in the face of the crisis of the Corona virus pandemic, which caused the movement of foreign exchange to stop. Aviation, tourism and trade globally.
