Pakistan Rupee Exchange Rate
Remittances from expatriates working abroad in Pakistan marked an inflow of $2.942 billion rising by 40.5 percent in August 2024 as compared to the snaps of almost $2.1 billion that were recorded in the same month of the previous year, a figure reflects the trend in inflow over the years.
In a monthly report issued on Monday, the state bank of Pakistan reported that the remittance inflows in August 2024 were sourced mainly from Saudi Arabia, UAE, UK, USA and other EU and GCC countries as well as Australia.
As stated in the report, $ 713.1 million was sent from overseas Pakistanis working in Saudi Arabia, from UAE $ 538.4 million, from United Kingdom $ 474.8 million, USA $ 322.4 million and from other EU countries $ 375.8 million.
The other figures for remittances received were $109 for Italy, $94.4 million for Oman, $80.6 million for Qatar, $69.9 million for Kuwait, $67 million for Spain, $59.1 million for Germany, $58.7 million for Australia, $48.2 million for France, $44.1 million for Greece, $42.1 million for Canada and $36.5 million for Bahrain also were impressive.
Such performance was also replicated in the remittance inflow during the first two months of fiscal year 2024-25 where a significant growth of 44 % was realized against the same period in the previous fiscal year.
