CAIRO, Nov. 10 (Xinhua) -- Remittances from Egyptians working abroad rose to about 13 billion U.S. dollars in the first quarter of fiscal year 2026/2027, an increase of 20.4 percent year on year, the Central Bank of Egypt (CBE) said Tuesday.
Remittance inflows also reached a record 38.2 billion dollars in the first nine months of 2026, up from around 30.2 billion dollars in the same period of 2025, the CBE said in a statement.
The first-quarter figure covers July-September 2026, the opening three months of Egypt's fiscal year, which runs from July 1 to June 30 of the following year.
Remittances, one of Egypt's main sources of foreign currency, have risen steadily since March 2024, when the CBE allowed the exchange rate to be determined by market forces, helping eliminate the gap with the parallel foreign exchange market.
Egypt has no official statistics on the number of its citizens working abroad, but estimates put the figure at more than 10 million. ■