The State Bank of Pakistan (SBP) reported that Pakistan’s overseas Remittances were recorded at $ 2.52 billion in October 2021. This led to 17th consecutive month of remittances recorded at more than $2billion.
According to the details, the central bank said that workers’ remittances continued to boom as it was recorded at $ 2.5 billion in October 2021, up 10.2 percent from a year earlier and only slightly down from 5.7 percent last month.
In addition to remittances worth over $ 2 billion since June 2020, this is the eighth straight month that remittances are approaching $ 2.5 billion or more.
Overall, in the first four months of the 22 fiscal year (July-October), remittances rose to $ 10.6 billion, up 11.9% over the same period last year ($ 4 million in fiscal 21).
Remittances for the first four months of the 222 fiscal year were received primarily from Saudi Arabia, $ 2.0 billion from the United Arab Emirates, $ 1.5 billion from the United Kingdom, and $ 1.1 billion from the United States.
Latest posts by News Desk (see all)
- NdcTech gather Banks at Temenos Community Forum (TCF) 2022 - July 18, 2022
- Foreign Remittance at $2.8bn in June-2022 - July 18, 2022
- Sindh to get IT Projects worth PKR 5bn - June 3, 2022