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Overseas Pakistanis Sent $2.5 Billion Remittances in March 2023

In Karachi. Due to worker remittances, Pakistan saw an influx of $2.5 billion in March 2023, with Saudi Arabia and the United Arab Emirates contributing the most.

Read More: Dollar Rate in Pakistan: USD to PKR Open Market Prices 2023

Remittances grew by 27.4% on a monthly basis during March and declined by 10.7% on a yearly basis, according to a statement from the State Bank of Pakistan.

Remittances declined by 10.8% in the first nine months of fiscal year 2023 compared to the same period last year, totaling $ 20.5 billion.

According to the statement, the largest sources of remittance inflows on March 23 were Saudi Arabia ($563.9 million), the United Arab Emirates ($406.7 million), the United Kingdom ($422 million), and the United States of America ($316 million).

Read More: PKR Becomes Worst Currency Against US Dollar in Asia

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