CBE: Foreign Exchange Reserves Rise to $48.5 Billion
The Central Bank of Egypt (CBE) announced that net international reserves rose to $48.526 billion by the end of May, compared to $48.144 billion by the end of April, an increase of $382 million.
Earlier today, the bank announced that remittances from Egyptians working abroad recorded an unprecedented historic leap during the period July-March 2024/25, rising by 82.7% year-on-year to approximately $26.4 billion (compared to approximately $14.4 billion).
The period January-March 2024/25 also witnessed an 86.6% year-on-year increase, reaching approximately $9.4 billion (compared to approximately $5.0 billion).
On a monthly basis, remittances in March 2025 increased by 63.7% year-on-year to approximately $3.4 billion (compared to approximately $2.1 billion).
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