In first 8 months of this financial year, a 3% annual increase in remittances of Pakistanis living in US has been recorded.
According to the data released by the State Bank of Pakistan, Pakistanis living in the United States sent foreign exchange worth 1.973 billion dollars to the country between July 2022 and February 2023.
This amount is 3% more than the figures of the same period of the previous financial year. In the period under review of the last financial year, Pakistanis living in America sent foreign exchange worth 1.917 billion dollars to Pakistan.
State Bank’s reserves increase by $280 million, reaches to $4.59 billion
In February, the volume of remittances from the United States was recorded at 219 million dollars, which is 4% more than the amount sent in February last year.
In February last year, the volume of remittances from America was recorded at 211 million dollars. In comparison to January, remittances from the US recorded a 3 percent increase on a month-on-month basis in February.
In January, Pakistanis working in the US sent $214 million worth of foreign exchange to the country, which increased to $219 million in February.