Saudi Gazette report

RIYADH — The remittance of expatriates during the first 10 months of 2020 recorded an increase of 18.5 percent, reaching SR123.4 billion, compared to the same period last year when it stood at SR104.1 billion, according to a report of the Saudi Central Bank. There has been an increase of 19.2 percent in the remittance during the last October amounting to SR13.16 billion against SR11.04 billion during the month of October 2019.

The monthly remittance dropped by 0.4 percent in October, compared to the previous month of September when it reached SR13.21 billion. The remittance of Saudi citizens recorded a fall of 17.5 percent during the first ten months of 2020, reaching SR38.9 billion compared to SR47.18 billion during the same period last year.

The Saudi Central Bank figures showed that the total volume of personal transfer of money by both Saudis and expatriates outside the Kingdom reached SR162.3 billion during the first ten months of 2020 against SR151.3 billion during the same period in the previous year, registering an increase of 7.3 percent (SR11 billion).

The personal transfer of money during the month of last October posted an increase of seven percent, reaching SR17.4 billion against SR16.23 billion in October last year.