Remittances from Egyptian expats recorded a new high in August 2024, increasing by 65.5 per cent year-on-year to approximately $2.6 billion, a central bank data showed on Monday. This marks the sixth consecutive month of growth. In August 2023, remittances recorded $1.6 billion. On a monthly basis, remittances rose 76.2 per cent in August compared to a previous month. Year-to-date, remittances from Egyptians overseas inched up by 36.4 per cent, reaching $18.1 billion in the first eight months of 2024, compared with $13.3 billion in the same period in 2023. Attribution: Emailed statement from CBE
