Mubasher TV
Contact Us Advertising   العربية

Remittances from UAE hit AED 165.2bn in 2019

Remittances from UAE hit AED 165.2bn in 2019
The outward remittances amounted to AED 169.2 billion in 2018

UAE – Mubasher: The outward remittances from those living in the UAE declined by 2.3% or AED 4 billion to reach AED 165.2 billion ($44.98 billion) in 2019.

In 2018, the outward remittances amounted to AED 169.2 billion ($46.056 billion), according to the annual report 2019 of the Central Bank of the UAE (CBUAE).

The outward remittances that were settled through the banking system decreased by 15.7% or AED 6.3 billion last year, when compared to 2018.

Through the exchange houses, remittances increased by 1.7% or AED 2.2 billion in 2019 compared to the prior year.

The report noted that workers' remittances abroad declined during last year, despite an increase in the employment rates for workers and the continued rise in the value of Dirham.

It is noteworthy to mention that during the third quarter of 2019, the foreign remittances from the UAE dropped by 4.2% or around AED 1.9 billion to AED 42.55 billion from AED 44.42 billion during the year-ago period.