cairo – The Central Bank of Egypt (CBE) announced on Sunday a $215 million increase in ⁤the nation’s ⁤net foreign reserves for August, ⁤bringing the total to $49.251 billion. This represents an increase from ⁣the $49.036 billion recorded in ⁤July.

According ⁣to⁤ the CBE,this continued growth in foreign exchange⁢ balances​ is driven by several⁢ key factors,including increased⁤ revenue from tourism,remittances from Egyptians working abroad,Suez​ Canal receipts,and both direct ⁢and indirect foreign investment.

Notably, remittances‌ from Egyptians abroad experienced a historic⁤ surge, increasing by 82.7% year-on-year between⁣ July and March of‌ the⁤ fiscal year 2024/2025. ⁣ These inflows reached approximately $26.4 billion, compared to $14.4 ​billion during the⁣ same period in the previous fiscal year – a jump the CBE​ has characterized as “unprecedented.”

Egypt’s non-oil exports also demonstrated strong performance, ‍rising by 19.1% during the first seven months of 2025 to $29.1 billion,up from $24.4 billion during the corresponding period in 2024.

The CBE⁤ confirms that Egypt’s international reserves are held ‌in a diversified basket of major global currencies, including the US dollar, euro, pound sterling, Japanese yen, and Chinese yuan.