Qatari exchange houses record spike in remittances; Sri Lanka, Egypt deny bans on Qatari Riyal
Expatriates living in Qatar have started sending money home en masse, according to industry sources.
Gulf Times reported that exchange houses in Doha saw a spike in remittances on Monday and expected the trend of ‘high transaction activities’ to continue this week.
A senior official revealed to the newspaper that as much as 60% of transactions were made by Indian expatriates.
“The volume of transactions last Monday in our exchange was almost four times higher than the normal daily average. At least 60% of remittances were sent to India, and 20% were sent to the Philippines; another 20% comprised of other countries put together,” he said.
There had been reports swirling around the Internet that countries had stopped dealing in Qatari Riyal. However, several government institutions in different countries shot down those claims.
The Sri Lankan central bank, in a statement, denied it had informed banks ‘not to accept Qatari Riyals.’
About 50,000 to 60,000 Sri Lankans each year over the past two years have departed the country to work in Qatar, central bank data showed.
Qatar has provided the most number of jobs for Sri Lankan expatriates after Saudi Arabia in the last two years, reported The Peninsula.
Similarly, the Central Bank of Egypt (CBE) denied issuing any instructions to banks operating in the local market to stop dealing in Qatari riyal, reported Daily News Egypt.
In an Arabic statement, the CBE stressed it did not forbid dealing in Qatari currency at Egyptian banks.
However, the Saudi Arabian Monetary Authority (SAMA) has instructed Saudi banks not to deal with Qatari banks in Qatari riyals, Mubasher Info reported citing banking sources.
Some commercial banks in Saudi Arabia and the UAE have suspended their dealings with Qatari banks, due to the diplomatic dispute in the region, the sources added.
after all! we expect from ALLAH only.
you are right? they cant drive their car over 80 km/H, and if u horn them they lose their car's control. what u expect from them in worst situation??
During these 2 days I started to hate and despise Indians even more than before. They create agiotage though this is not the war. Indians created big queues in supermarkets buying everything by several big packs. They create agio in the bank field as well. Shame!