Riyadh: Expatriates from Saudi Arabia sent 1133 crore Riyals to their home countries in the month of September. According to government documents, the amount legally remitted is close to $302 million. The total amount remitted through banks and financial institutions at the same time last year was 15.1 percent lower this time. Last September, expatriates had sent 1335 crore riyals to their respective countries.
In other months, remittances sent by expatriates outside Saudi Arabia were also lower than last year. In July, August and September, the third quarter of last year reported an exchange of 3960 crore Rials. But this time only 3485 crore Riyals were sent out in this way. The 12 per cent decline in remittances was the lowest reported since the 19 per cent decline recorded in the second quarter of 2019.