Egyptian Expats Sent 20% More Money Home After Pound's Flotation

Egyptian workers abroad sent 20 percent more money home following the flotation of the pound, a sign of growing confidence in the North African country’s new currency regime.

Expatriates remitted about $5 billion from Nov. 3 through the end of January, compared to $4.1 billion in the same period last year, the Central Bank of Egypt said in an emailed statement Monday. In January, transfers increased 23 percent to $1.6 billion.