Riyadh – Mubasher: Remittances by expatriates living in Saudi Arabia declined by 8.5% year-on-year to SAR 10.723 billion ($2.859 billion) in April.
Month-on-month, remittances went down 23% last months from SAR 11.258 billion in March, data released by the Saudi Monetary Authority (SAMA) showed on Wednesday.
Meanwhile, money transfers by Saudis grew 2.39% to SAR 5.06 billion in April, its highest level in 11 months.
Saudis’ transfers rose 18.6% month-on-month last month from SAR 4.267 billion in March.
During the first quarter of 2019, expats residing in Saudi Arabia registered SAR 31.93 billion in remittances, compared to SAR 35.98 billion in the year-ago period.
