Banking & Finance Remittances from Egyptian workers abroad at $2.4bn in May By Reuters August 1, 2022, 5:43 AM Creative Commons Remittance flow between the kingdom of Saudi Arabia and Kenya rose 30.28% in the first eight months of 2023 Remittances from Egyptian workers abroad at $2.4 bln in May Remittances from Egyptian workers abroad reached $2.4 billion in May, the central bank said on Sunday. Remittances, one of Egypt’s main sources of foreign currency, were at $2.6 billion in May 2021, the bank added. Egypt’s M2 money supply rose by 23.4 percent year-on-year in June, data from the central bank also showed. Money supply stood at 6.61 trillion Egyptian pounds ($349 billion), up from 5.35 trillion pounds in the same month last year.
