Remittances of Egyptian expats hit $4.4bn

Remittances from Egyptians expats have increased by 5.5% ($227.1m) in July and August, reaching $4.4bn, according to the figures from the Central Bank of Egypt (CBE). Money sent home by Egyptian living and working abroad along with the revenues of the Suez Canal, the tourism sector and foreign investments are the major sources of hard currency in the country. "The remittances reached $4.4bn in July and August, compared to $4.2bn in the same period last year," the CBE said in a statement. Egypt's remittances notably jumped after about a year since the flotation of the Egyptian pound...