Riyadh - Mubasher: Foreign remittances by expats working in Saudi Arabia declined by 16.9% year-on-year in August, or SAR 2.1 billion, according to the Saudi Arabian Monetary Authority (SAMA).
On the monthly level remittances fell 14% by around SAR 1.7 billion compared to its level in July.
The data of SAMA’s monthly bulletin showed that remittances reached SAR 10.4 billion last month, compared with SAR 12.5 billion in August 2017, and SAR 12.2 billion in the month before.
Total expats’ remittances totalled SAR 93.7 billion in the first eight months of 2018.
Meanwhile, Saudi remittances declined by around 17% to SAR 3.7 billion, down from SAR 6.8 billion for the same period last year.
