133 billion riyals remittances of foreigners in Saudi Arabia within 11 months … decreased by 6.7%

Data from the Saudi Central Bank revealed that foreigners transferred 133.1 billion riyals during the first 11 months of 2022, a decrease of 9.6 billion riyals, or 6.7% from their transfers in the same period of the previous year 2021, which were 142.8 billion riyals.

Foreign transfers amounted to 10.5 billion riyals, during last November, a decrease of 2447 million riyals, or 18.9% compared to their transfers in November of the previous year 2021, which were 12.97 billion riyals, while foreigners’ transfers declined by 6.4%, compared to their transfers, which amounted to 11.2 billion riyals. During the month of October of this year, to record the lowest level in two and a half years, specifically since April 2020.

On the one hand, transfers from Saudis declined to 6.3 billion riyals during November 2022, by 11.8%, from November 2021 transfers, which were 7.2 billion riyals, while they increased by 6.6%, from October 2022 transfers, which were 5.9 billion riyals, according to the newspaper. “Capital”.

According to the Central Bank’s bulletin for November 2022, local banks sold about 63.5 billion riyals during last November, which were converted into foreign exchange to other customers inside the Kingdom, an increase of 7.2 billion riyals from what was sold in the previous month of October, which amounted to about 56.3 billion riyals, while it declined by about 32.7 billion, or 34%, compared to foreign exchange sales in November 2021, which were 96.2 billion riyals.