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Remittances from expatriate Egyptians up 15.4 pct yr-on-yr in December -c.bank
February 6, 2017 / 3:08 PM / 10 months ago

Remittances from expatriate Egyptians up 15.4 pct yr-on-yr in December -c.bank

CAIRO, Feb 6 (Reuters) - Remittances from expatriate Egyptians rose 15.4 percent to $1.6 billion in December 2016 from $1.4 billion in December 2015, the central bank said on Monday.

The December figure brought total remittances in the fourth quarter of the 2016 calendar year to $4.6 billion, an 11.8 percent increase from the $4.1 billion transferred back during the same period in 2015, the bank said in a statement.

The central bank floated the Egyptian pound on Nov. 3. Around 72 percent, $3.3 billion, of fourth quarter remittances came after the float, the bank added. (Reporting by Ahmed Aboulenein; Editing by Lin Noueihed)

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