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FINANCIAL NEWS
UAE expat remittances hit USD10bn in Q1, 2017
08 May 2017
(MENAFN) Expat remittances from the UAE remained on a positive growth track reaching AED37.1bn in the first quarter of the year, an increase of 1.1 percent from the same period of 2016.
Meanwhile, Indian expats tope the list sending a whole cash of AED12.95bn, accounting for 34.9 percent of total remittances, trailed by Pakistani nationals for 9.4 percent.
Additionally, more than 75 percent of total remittances, amounting to AED27.8bn, were conducted amid money exchange firms amid the cited period.
Furthermore, the Central Bank attributed the increase in remittances to 2.2 percent in the average value of UAE Dirham against other currencies.
MENAFN0805201700450000ID1095459594
MENAFN0805201700450000ID1095459594
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