In November, overseas Pakistanis sent foreign exchange amounting to $2.25 billion, reflecting a 3.6% decrease compared to the corresponding month last year. During the initial five months of the current financial year, the total financial volume of workers' remittances reached $11 billion. In ...

In October, remittances from Pakistani workers abroad surged by 11.5 percent on a month-on-month basis, reaching $2.5 billion, as reported by the State Bank of Pakistan (SBP) on Friday. The figures reveal a notable increase from the $2.2 billion recorded in September, signifying robust growth. ...

Pakistan has the potential to attract up to $50 billion in remittances this year, thanks to the government's efforts to streamline the system and combat illegal hawala/hundi channels. Faisal Niaz Tirmizi, Pakistan's Ambassador to the UAE, made this announcement as the chief guest at ...

In a worrisome development, Pakistan has experienced a significant drop in workers' remittances when compared year-on-year (YoY). The latest data from the State Bank of Pakistan (SBP) reveals a 5.34% increase in remittances on a month-on-month (MoM) basis, reaching $2.21 billion, as opposed to ...

The overseas workers' remittances for the month stood at $2.2 billion, indicating a 5.3% growth compared to the previous month's recorded remittances of $2.09 billion. However, on a year-on-year basis, these remittances saw an 8.3% decline in September, with the State Bank of Pakistan reporting ...

In August, overseas Pakistani residents sent an excess of 3% more remittances compared to July. According to the State Bank of Pakistan, in August, Pakistani expatriates living abroad sent a total of 2.1 billion dollars to their homeland. Among these remittances, Pakistani residents in Saudi Arabia ...

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 ...

KARACHI: Pakistan suffered a massive $8.3 billion loss due to significant declines in remittances and exports during the outgoing fiscal year as the PMLN-led coalition government preferred appeasing the International Monetary Fund for a $1.2bn tranche. Pakistan lost much more than what it gained ...

KARACHI – Pakistan’s central bank dismissed the reports claiming that capping the price of US dollar caused loss of $3 billion in remittances and exports. The development comes as the Pakistani rupee plunged around 10 percent against USD last week, in a biggest one-day drop in over two ...

The decline of foreign emittances sent home by overseas Pakistanis continued for the second successive month-on-month in October as the foreign remittances declined by over 9% to clock in at $2.2 billion, according to data released by The State Bank of Pakistan Friday. The remittances were 15.7% ...