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Foreign Reserves At All-Time High for 11th Consecutive Month

Islamabad: The State Bank of Pakistan (SBP) recently announced that remittances from Pakistanis abroad hit a record high of $2.8 billion in April, according to news sources. This is a 56% increase over the same period last year.

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In addition, from July 2020 to April 2021, workers’ remittances increased by 29% (US$24.2 billion) over the same period last year, setting a new record.

The country’s central bank revealed that the inflows came mainly from Saudi Arabia ($6.40 billion), the United Arab Emirates ($5.08 billion), the United Kingdom ($3 billion), and the United Arab Emirates ($3.08 billion). .33 billion USD) and the United States (2.22 billion USD).

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In a statement posted on his official Twitter account, Prime Minister Imran Khan commended Pakistanis abroad for believing in the spirit of “Naya Pakistan” and believing in the current government. Similarly, Pakistan’s foreign exchange reserves increased by $168 million. With the aforementioned increase in remittances, SBP’s reserves have increased to $15.775 billion (from $15.598 billion previously). 

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