Egyptian remittances hit record $23.2 billion in first seven months of 2025 Photo of Egypt Independent Egypt Independent

The Central Bank of Egypt announced a 49.7 percent increase in remittances from Egyptians working abroad during the first seven months of the year (January-July 2025), reaching approximately $23.2 billion.

According to a statement from the Central Bank, remittances for the same period last year were around $15.5 billion.

On a monthly basis, remittances in July 2025 reached a historical monthly high of $3.8 billion, up from approximately $3.0 billion in July 2024, representing a 26.3 percent increase.

Earlier in September, Central Bank Governor Hassan Abdalla confirmed that local foreign currency resources reached a record level in August, sufficient to cover all domestic obligations and more.

In a previous meeting with Abdalla, President Abdel Fattah al-Sisi emphasized the importance of focusing on increasing foreign exchange reserves and continuing to provide sufficient dollar resources.

He noted that this would positively impact the availability of various goods and help reduce external debt. He also called to continue operating with a flexible exchange rate system.