SBP issues remittances data

Monetary Policy Committee

State Bank of Pakistan (SBP) has said that workers’ remittances in November 2022 recorded an inflow of US$2.1 billion. According to SBP press release issued here on Wednesday, during the last month the remittances decreased by 4.8 percent on m/m and by 14.3 percent on y/y basis.With cumulative inflow of US$ 12 billion during Jul-Nov FY23, the remittances decreased by 9.6 percent as compared to the same period last year.

Giving detail it said that the remittances inflows during Nov 2022 were mainly sourced from Saudi Arabia ($498 million), United Arab Emirates ($377.8 million), United Kingdom ($299.1 million) and United States of America ($229.4 million).—APP