Remittances from Egyptians abroad rose 21.1 percent to $26.5 billion in the 2017-2018 financial year, the central bank said. (Reuters)
Remittances from Egyptians abroad rose 21.1 percent to $26.5 billion in the 2017-2018 financial year, the central bank said on Thursday.
Remittances for the previous financial year stood at $21.9 billion, it said.
Egypt’s fiscal year runs from July to June.
Remittances have surged since Egypt floated its pound currency in late-2016 and drew hard currency back to its official banking system, drying up a then-thriving black market for dollars.
