ISLAMABAD (XINHUA) – The remittances sent by overseas Pakistani workers decreased by 8.6 per cent in November month on month, the State Bank of Pakistan (SBP) said on Friday.
The workers’ remittances recorded an inflow of USD2.2505 billion in November as compared to the previous month’s figure of USD2.4631 billion, the SBP data showed.
Cumulatively, it received an inflow of USD11.0452 billion in the first five months of the current fiscal year starting from July 2023 to June 2024, it added. Last month, overseas remittances mainly came from Saudi Arabia with USD540.3 million, the United Arab Emirates with USD409.4 million, Britain with USD341.7 million, and the United States with USD261.5 million, according to the central bank.
Remittances by overseas workers play an important role in Pakistan’s economy as they are one of the major sources of foreign exchange.
