SAMA: Non-Saudis transfer SR76.6 billion in 6 months

Data from the Saudi Central Bank revealed that non-Saudis transferred SR 76.56 billion during the first half of 2022, a decrease of SR 149 million, or 0.2% compared to their remittances in same period of the previous year 2021, which was SR 76.71 billion. Non-Saudis transfers declined by 2.1% or SR 277 million compared their transfers which amounted to SR 13.49 billion during the same month of the previous year, while their transfers rose 17.2% compared to May 2022 when it recorded SR 11.28 billion.

On the one hand, Saudi transfers rose to SR 6.75 billion during June 2022, or 5.1%, compared to their transfers of the same month of the previous year, which were SR 6.4 billion, while they surged by 8.9%, compared to transfers in May 2022 of which was SR 6.2 billion.

According to the Central Bank Monthly Statistical Bulletin for June 2022, local banks sold about SR155.6 billion during last June, which were converted into foreign exchange for other customers inside the Kingdom, an increase of SR 44.7 billion from what was sold in the previous month of May, which amounted to about SR 110.8 billion, while it increased by 54% or about SR 54.6 billion for foreign exchange sales in June 2021 which were SR 100.9 billion.