SAMA: Foreigners transfer 144.2 billion riyals during 2024.. and December transfers was the largest in 33 months

Data from the Saudi Central Bank revealed that foreigners transferred 14 billion riyals during last December, an increase of 3,372 million riyals, and by 31.7% over their transfers in December of the previous year 2023, which were 10.6 billion riyals, while foreigners’ transfers increased by 16.5% over their transfers that amounted to 12 billion riyals during November of 2024, recording their highest levels in 33 months, specifically since March 2022.

Foreigners’ transfers amounted to 144.2 billion riyals in 2024, an increase of 13.7% over their transfers in 2023, which were 124.9 million riyals, recording the highest level in 3 years, specifically since 2021.

On the one hand, Saudis’ transfers increased to 7.664 billion riyals during December 2024, and by 33.2%, from December 2023 transfers, which were 5.754 billion riyals, while it increased by 24.2%, from November 2024 transfers, which were 6.17 billion riyals, to record the highest monthly level in 7 years, specifically since November 2017. According to the Central Bank’s bulletin for December 2024, local banks sold about 141 billion riyals during last December, which was converted into foreign currency for other customers inside the Kingdom, an increase of 66.9 billion riyals from what was sold in the previous November, which amounted to about 74.1 billion riyals, while it grew by about 82.5 billion and by 141%, from foreign currency sales in December 2023, which were about 58.5 billion riyals.