Remittances cross $3 billion mark in April

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Remittances cross $3 billion mark in April

Karachi: For the first time, remittances crossed the monthly mark of $3 billion, beating the previous high of $2.8 billion recorded in March of FY22.

Read: Pakistan received all-time high $2.8bn in remittance in March: SBP

According to a statement released by the State Bank of Pakistan, cumulatively, at $26.1 billion, remittances grew by 7.6 % in the ten months of FY22 compared to the same period in FY21.

It is also pertinent to mention that as per the statistics, money sent by overseas Pakistanis from Saudi Arabia in April led the list, with workers sending $707.2 million from the Kingdom.

Similarly, remittances from the United Arab Emirates ($614.1 million) and the United Kingdom ($484 million) take second and third place.

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