CAIRO, April 30 (Xinhua) -- Remittances from Egyptians working abroad reached 29.4 billion U.S. dollars during the first eight months of the fiscal year 2025/2026, the Central Bank of Egypt (CBE) said Thursday.

This represents a 28 percent increase year-on-year, the CBE said in a statement.

It added that the total inflow for the July-February period rose from approximately 23.0 billion dollars during the same period of the previous fiscal year, which ends in June 2025.

The bank noted that on a monthly basis, remittances surged by 25.7 percent in February 2026 alone, totaling about 3.8 billion dollars compared to 3.0 billion dollars in February 2025.

Remittances, along with revenues from the Suez Canal, tourism, and foreign investment, are key contributors to Egypt's foreign currency reserves, helping to support the North African nation's economy. ■