SAMA: Non-Saudis transfer SR111.4 billion in 9 months, Saudi ‎transfers down 9.9% in September ‎

Data from the Saudi Central Bank revealed that non-Saudis transferred SR 111.4 billion during the nine half of 2022, a decrease of SR 4.9 billion, or 4.2% compared to their remittances in same period of the previous year 2021, which was SR 116.3 billion. Non-Saudis transfers declined by 15.1% or SR 2019 million during September compared their transfers which amounted to SR 13.4 billion during the same month of the previous year, while their transfers declined 4.9% compared to August 2022 when it recorded SR 11.9 billion.

On the one hand, Saudi transfers plunged to SR 5.2 billion during September 2022, or 9.9%, compared to their transfers of the same month of the previous year, which were SR 5.8 billion, while they dipped by 17.6%, compared to transfers in August 2022 of which was SR 6.33 billion.

According to the Central Bank Monthly Statistical Bulletin for September 2022, local banks sold about SR 60 billion during last September, which were converted into foreign exchange for other customers inside the Kingdom, a decrease of SR 67.9 billion from what was sold in the previous month of August, which amounted to about SR 128 billion, while it dipped by 28.8% or about SR 24.4 billion for foreign exchange sales in September 2021 which were SR 84.5 billion.