SPIKE IN SAUDI REMITTANCE CENTERS AS ASIAN CURRENCIES FALL
Remittance centers in Saudi Arabia are preparing themselves for a suddenly increased number of remittances to Asian countries as the US dollar goes stronger which made their country currencies fallen to a lifetime low. Most Viewed : ATM withdrawal limit per day in Saudi Arabia
According to various recent analysis, Indian rupee is set to collapse further to 70 per dollar, which means a lot for the Indian expatriates as they can get more money for the same money they are sending every month. See Also : Indians still prefer Saudi Arabia for Jobs
- As of Sunday, the Indian currency is trading for 18.25 to a Saudi Riyal and 68.45 to a US dollar, amid concerns of high crude oil prices may worsen the Asian countries current account deficit and inflation.
- Indians are the biggest remittances from all over the world, In the year 2016, Indian expatriates from all over the world sent 69 billion dollars to India, which is a huge. Read : How to send money transfer online through Enjaz
- As the rupee at its weakest point, thousands of workers around Saudi Arabia received their salaries, remittance centers are seeing an increase in number of transaction this week.
- It is expected that the rupee will fall further and make it to 70 rupees for a US dollar in the coming time, which is estimated by the middle of 2019. Trending : Cash limits allowed to carry at Saudi airports