State Bank released details of the received foreign remittances in July and August. According to the Central Bank, there was a 22% decrease in foreign remittances in July and August 2023 compared to the previous year.
Foreign remittances in July and August 2023 amounted to $4.1 billion, whereas they were $5.2 billion in the same period last year. State Bank reports that there was a 3.1% increase in Pakistani Foreign remittances in August compared to July, with foreign remittances. totaling $2.929 billion in August. In comparison to August last year, foreign remittances have decreased by 24%. Foreign remittances in August 2022 amounted to $2.744 billion.