SAMA: Non-Saudis transfer SR12.5 billion in a month, Saudis’ remittances rise 45%

Data from the Saudi Central Bank revealed that non-Saudis transferred SR12.5 billion during January, an increase of SR462 million, or 3.8% compared to their remittances in January of the previous year 2021, which was SR12.06 billion riyals. Non-Saudis transfers increased by 13% compared their transfers which amounted to SR11.1 billion during December of 2021.

On the one hand, Saudi transfers rose to SR6.2 billion during January 2022, or 45.3%, compared to the transfers of the same month of the previous year, which were SR4.3 billion, while they rose by 8%, compared to transfers in December of which was SR5.7 billion.

According to the Central Bank Monthly Statistical Bulletin for January 2022, local banks sold about SR102.5 billion during last January, which were converted into foreign exchange for other customers inside the Kingdom, a decrease of SR10.3 billion from what was sold in the previous month of December, which amounted to about SR112.8 billion, while it increased by about SR21 billion for foreign exchange sales in January 2021 which were SR81.5 billion.