Egypt Reaches Six-Year High in Foreign Reserves Driven by Surge in Remittances

Egypt’s financial sector has achieved its strongest foreign reserve position in six years, bolstered by a massive influx of capital from citizens living abroad. Latest data released by the Central Bank of Egypt reveals that net foreign assets held across the banking system reached $31.2 billion as of August 2026, marking a peak figure not seen since 2020.

Driving this capital accumulation is a persistent upward trajectory in overseas worker remittances. In July 2026 alone, Egyptians abroad sent home nearly $4.5 billion, representing a robust 20.0% surge compared to the $3.8 billion recorded in July 2025.

The steady growth in transfers underscores renewed confidence in official banking channels and provides crucial hard-currency liquidity for Cairo’s broader economic stabilization efforts.