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Remittances from Saudi Arabia to foreigners declined. The decline was in November. It was four per cent lower than in October.
According to data released by the Saudi National Bank, the foreign exchange market has declined. According to Sama, foreigners remitted 1297 crore riyals in November through the country’s banks and financial institutions. In October, it was Rs 1302 crore.
However, it recorded a one per cent increase over the same period last year. In November, remittances from expatriates for various purposes increased. Remittances during the period were 718 crore riyals. This is an increase of 48% over the same period last year. According to SAMA, November saw a 17 crore increase in remittances over the previous month.