Cairo - Mubasher: Foreign exchange returns to Egypt increased by 67.4% during fiscal year 2015/2016, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
CAPMAS said in a report on Wednesday that foreign returns totaled EGP 1.5 trillion ($169 billion) compared to EGP 901.5 billion ($169 billion) in FY14/15, when the USD exchange rate stood at EGP 8.88.
The report attributed the rise in foreign returns to the growth in exports and money transfers.
Foreign exchange receivables reached EGP 1.01 trillion in FY15/16 compared to EGP 824.8 billion in the year before, as a result of the increase in receivables from transportation, foreign direct investment (FDI), and bank transfers.
