$2.5 bn received in workers remittances last month: SBP

KARACHI: The State Bank of Pakistan (SBP) on Friday said workers’ remittances recorded an inflow of US$2.5 billion during October 2023, Bol News reported.

“In terms of growth, during October 2023, remittances increased by 11.5 percent on month on month and 9.6 percent on year on year basis. Workers’ remittances inflow of US$ 8.8 billion has been recorded during first four months of FY24,” the state bank said.

Remittances inflows during October 2023 were mainly sourced from Saudi Arabia ($616.8 million), United Arab Emirates ($473.9 million), United Kingdom ($330.2 million) and United States of America ($283.3 million).