CBE says remittances since flotation increased by 19.7% y-o-y, up 23% in January

The Central Bank of Egypt announced that preliminary data shows remittances of Egyptians abroad having increased by 23% y-o-y in January to USD 1.6 bn, according to an emailed statement. The CBE says the remittances in January 2016, prior to the flotation of the EGP, were USD 1.6 bn and notes that remittances in the period between November 2016 to January 2017 have seen a 19.7% y-o-y increase and have reached a total of about USD 5 bn.