Cross-border remittance inflows increased by 13% to $9.3 billion in the first half, while foreign-exchange turnover between banks and individuals rose by 31% to $19.1 billion. The data underline the household sector’s growing importance to domestic foreign-exchange liquidity and consumption.
Remittance growth reflected continued labour demand and wage conditions in destination markets, alongside greater geographic diversification. Inflows from the United Kingdom rose 62%, from the European Union 27% and from the United States 19%; direct P2P transfers to bank cards accounted for 51.7% of receipts, or $4.8 billion.
Banks purchased $12.3 billion of foreign currency from individuals, up 35%, and sold $6.8 billion, up 26%. Exchange offices handled 59% of turnover and online channels 39%, while the household segment’s net-supply ratio increased from 26% to 29%, highlighting its growing role in domestic foreign-exchange liquidity.
For banks and consumer-facing issuers, stronger remittance flows can support transaction volumes, deposit formation and domestic demand. Credit analysis should nevertheless retain sensitivity to labour-market conditions in destination countries and to the geographic concentration of inflows.
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