The Central Bank of Egypt said in a statement today, Monday, that remittances from Egyptians working abroad rose 12.8 percent in March, to record about $3.3 billion, compared to about $2.9 billion a year ago.
Total transfers in the first nine months of the 2021-2022 fiscal year rose 1.1 percent year on year to $23.6 billion.
In April, Egypt recorded a rise in the country's net foreign reserves, which amounted to 37.123 billion dollars at the end of April, up from 37,082 in March.
Egypt is currently seeking to enhance its foreign exchange reserves to face the economic challenges resulting from the high exchange rate of the dollar and the repercussions of the Ukrainian-Russian war.
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