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With the start of the 2022 FIFA World Cup in Qatar, foreign currency exchange transactions at Al Ansari Exchange have increased by 12% from the beginning of November compared to the same period last month. The company expects to report a 22% increase in average monthly transaction volume this year.
The growth is part of a marked increase in currency exchange and remittance activity in the UAE, which is due to several variables, including increased tourist numbers as the 2022 FIFA World Cup in Qatar gets underway and the season kicks off with the Abu Dhabi Grand Prix and Abu Dhabi Tennis Championships etc.
This growth is further evidence of the effectiveness of the policies and initiatives implemented by the government to strengthen the UAE’s leading position as a tourism, business and residential hub.
number of tourists
Rashed A Al Ansari, CEO of Al Ansari Exchange, said: “The foreign exchange and remittance industry in the UAE has grown exponentially due to a significant increase in the number of tourists visiting the country. Since the beginning of November, we have witnessed a surge in foreign exchange transactions and expect the The industry’s strong performance will continue as the UAE prepares to welcome a large number of tourists during the winter season.”
The U.S. dollar, euro, pound sterling, and Saudi and Qatari riyals accounted for the majority of currency transactions during the period, with the highest growth rates, Al Ansari Exchange said. — trade arab news agency
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