Cairo – Mubasher: The Central Bank of Egypt (CBE) on Sunday posted that remittances from Egyptian expatriates rose 40% year-on-year in August.
Total remittances increased to $1.7 billion in August 2017 from $1.2 billion in August 2016, the CBE highlighted in a statement.
Remittances rose $2.4 billion or 17.3% to $16.3 billion between November and August 2016, compared to the prior-year period, the statement added.
The bank’s primary data showed a 43.9% surge in total remittances during July 2017.
The CBE announced that remittances rose to $17.5 billion in fiscal year 2016/2017 from $17.1 billion in FY15/16.
