Please refer to monthly foreign exchange returns reported through International Transaction Reporting System (ITRS).

1. It has been observed that authorized dealers report country of location of head offices of the money transfer companies while reporting data on Workers’ Remittances instead of original country of the remitter. For example, IME – Malaysia may mobilize funds from UAE, however, all remittances mobilized by IME are reported from Malaysia which leads to improper position of country wise statistics. Therefore, all authorized dealers are strictly advised to report the original country of remitter while reporting data through ITRS.

2. Keeping in view the developments required at IT side and acquisition of data from money transfer companies, the authorized dealers will start data reporting according to original country of remitter from July 2020 and onwards.

3. To produce the comparable data series the authorized dealers will also report the revised data from July 2019 to June 2020 by 15th July 2020.

4. Please acknowledge receipt and feel free to contact in case of any query in this regard.