SAMA: Non-Saudis transfer 11.3 billion riyals within a month

Data from the Central Bank of Saudi Arabia revealed that foreigners transferred 11.346 billion riyals during the month of last April, an increase of 1423 million riyals, or 14.3% over their transfers in April of the previous year 2023, which were 9.923 billion riyals, while foreigners’ transfers decreased by 5.1%, compared to their transfers. Which amounted to 11.955 billion riyals during March 2024.

Foreigners’ transfers amounted to 43 billion riyals in the first 4 months of the current year 2024, an increase of 8.2% over their transfers in the same period of the previous year, which were 39.8 million riyals.

It is noteworthy that foreigners’ transfers in the year 2023 amounted to about 124.9 billion riyals, a decrease of 12.9%, compared to 143.2 billion riyals transferred during the period in 2022.

On the one hand, Saudis’ transfers increased to 4.939 billion riyals during the month of April 2024, by 26%, compared to transfers in April of the year 2023, which were 3.919 billion riyals, while they decreased by 3.5%, compared to transfers in March of the year 2024, which were 5.117 billion riyals.

According to the Central Bank’s bulletin for April 2024, local banks sold about 50.6 billion riyals during last April, which was converted into foreign currency for other customers inside the Kingdom, an increase of 2,093 million riyals compared to what was sold in the previous month, which amounted to about 48.5 billion riyals, while it decreased by about 3.8 billion, or 7%, compared to foreign exchange sales in April 2023, which were about 54.4 billion riyals.