On a monthly basis, remittances from Egyptians abroad increased by 26.6% compared to April 2024, when they recorded about $2.2 billion.
In February, the CBE and UAE were reported to be coordinating to convert $11 billion worth of UAE deposits into EGP.
Egyptian pound remains strong as foreign currencies witness decline for the second week in local banks.
Demand-driven exchange rates, determined by market forces, offer numerous benefits including increased efficiency, transparency, and resilience.
Egypt's banking sector is on a path of growth and stability as domestic liquidity reaches EGP 8.06 trillion, marking a significant increase.
