Remittances Remain Above 2BN For Fifth Consecutive Month
Foreign workers’ remittances amounted to $ 2.3 billion during October 2020, increasing by 14.1 percent compared to October 2019.
WEB DESK: Foreign workers’ remittances remained above $ 2.0 billion for the fifth consecutive month in October 2020.
According to the recent data, foreign workers’ remittances amounted to $ 2.3 billion during October 2020, increasing by 14.1 percent compared to October 2019.
During Jul-Oct FY20, workers’ remittances increased to $9.4 billion, recording a growth of 26.5 percent over the same period last year.
Earlier, in July 2020, remittances were the highest ever recorded for a single month.
The countries from which most remittances came were Saudi Arabia, the United Arab Emirates, the U.K. and the US.
The increasing remittances represent welcome news for country’s economy otherwise devastated by the pandemic.
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