Egypt Remittances Hit Record $47.3B as FX Reforms Boost Inflows

Egyptian expatriates sent a record $47.3 billion home in fiscal year 2025/2026, the Central Bank of Egypt reported on Thursday. The total was 29.6% higher than the $36.5 billion sent in the previous fiscal year, an annual gain of $10.8 billion. Inflows have climbed steadily in recent months, and the pace picked up as the year went on.

June remittances amounted to about $4.2 billion, up 15.6% from $3.6 billion in June 2025. Egypt's fiscal year runs from July through June, so the June figure closed out the annual cycle.

The pickup follows economic reforms adopted in March 2024. Those reforms improved foreign exchange availability and reduced distortions in the currency market, making it easier for Egyptians abroad to send money through official banking channels. The scale of the change is visible in the full-year comparisons.

The monthly trajectory was fairly steady in the final quarter. Cumulative figures through March, April, and May put April inflows at about $4.3 billion and May inflows at about $3.9 billion. June's $4.2 billion kept that range.

Earlier in the fiscal year the same pattern held. Remittances in the first eight months reached $29.4 billion, up 28% year on year. Through nine months, the total was $34.9 billion, a 32% increase. By April, cumulative inflows reached $39.2 billion. Through May they stood at $43.1 billion, 31.2% higher than the $32.8 billion recorded in the same period of FY 2024/2025. June added $4.2 billion and brought the full-year figure to $47.3 billion.

Remittances are a major source of foreign currency for Egypt, alongside tourism revenues, exports, and Suez Canal receipts. They are also one of the most reliable. Household money sent by Egyptians working abroad tends to be less responsive to short-term market swings than portfolio investment or trade credit, giving the central bank a comparatively steady supply of foreign exchange.

Authorities are trying to make formal transfer routes more attractive. In August, the central bank and foreign ministry launched the Update Your KYC in Egypt initiative with National Bank of Egypt and Banque Misr. The program aims to facilitate banking services for Egyptians working overseas, reducing friction for those who want to open accounts and move money through banks.

Foreign currency reserves reflect some of those gains. Egypt's net international reserves stood at $56.3 billion at the end of July 2026, up from $55.1 billion at the end of June.

The record numbers give the government more room to manage its external accounts without drawing down reserves. Egypt has been seeking to maintain foreign-currency liquidity and strengthen its balance of payments. The surge in remittances helps absorb pressure on the currency and on official reserves. With tourism and Suez Canal receipts vulnerable to external conditions, the money sent home by overseas Egyptians provides support that policymakers can count on.