Foreigners’ Remittances Surge to SR153.9 bln, in 2021 -SAMA Reveals

Foreigners’ remittances have surged to as much as SR11.1 billion, in December 2021, a decrease of SR2.3 billion, or 17.3% compared to theirs, in December 2020, at SR13.4 billion, while the overall remittances of foreigners decreased by 14.4%, compared to theirs at SR13 billion, in November 2021, the Saudi Central Bank (SAMA) data revealed.
The expatriates’ remittances amounted to SR153.9 billion during 2021, an increase of 2.8%, compared to theirs in the previous Year 2020, at SR149.7 billion, according to the Saudi Central Bank’s bulletin.
On the one hand, Saudis’ remittances increased to SR5.7 billion in December 2021, at a rate of 19.9%, compared to theirs in the same month of the previous year, at SR4.8 billion, while it decreased by 20%, compared to theirs in November 2021, at SR7.2 billion.
On the other hand, the remittances of Saudis jumped to SR65.5 billion by the end of 2021, a rate of 34.8% compared to theirs in 2020, at 48.6 billion.
Locally operating banks sold about SR112.8 billion last December, converted into foreign exchange for other customers inside the Kingdom, an increase of SR16.6 billion compared to the sales, in November, amounted to about SR96.2 billion, while it increased by SR12 billion for foreign exchange sales, in December 2020, at SR100.9 billion, SAMA December issued report pointed out.