(3 Minutes Read)
According to the CBE statement, remittance inflows in February 2025 exceeded USD 3 billion for the second consecutive month, more than double the USD 1.3 billion recorded in February 2024.
The Central Bank of Egypt (CBE) announced that remittances from Egyptians working abroad reached an unprecedented record of approximately USD 32.6 billion from March 2024 to February 2025. This marks a staggering 72.4 % increase, equivalent to an additional USD 13.7 billion, compared to the same period a year earlier.
According to the CBE statement, remittance inflows in February 2025 exceeded USD 3 billion for the second consecutive month, more than double the USD 1.3 billion recorded in February 2024. This marks the highest monthly inflow ever recorded during this time of year.
The surge follows a major monetary policy shift in March 2024, when the CBE allowed the Egyptian pound to depreciate by nearly 40% against the US dollar, reaching around 50 EGP per dollar.
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https://trendsnafrica.com/egypt-rolled-out-500-reform-measures-between-2022-and-2024/
The move was part of a broader shift to a flexible exchange rate policy, driven by market supply and demand dynamics.
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