The Central Bank of Egypt (CBE) said that the remittances of Egyptians working abroad recorded about $3.3bn in March 2022, compared to about $2.9bn in March 2021, an increase of 12.8%.
Remittances in March 2022 increased by 44.4% compared to February 2022, during which they recorded about $2.3bn.
The Central Bank clarified that the volume of remittances recorded during the period from July 2021 to March 2022, witnessed an increase of 1.1%, on an annual basis, to about $23.6bn.
The CBE revealed, earlier, that its foreign exchange reserves reached $37.123bn in April 2022, compared to $37.082bn March 2022.
The revenues of the Suez Canal Authority, tourism, and export; foreign investment; and remittances are the most important resources of foreign reserves in Egypt.