TRADE & ECONOMY

Remittances sent by overseas Pakistanis fell by 10.8% to $17.9 billion

2023-03-11
Remittances sent by overseas Pakistanis  fell by 10.8% to $17.9 billion

Remitt­ances sent by overseas Pakistanis fell by almost 11 per cent during the first eight months of the current fiscal year.



However, the inflow depicted a month-on-month increase of 5pc in February after the government and the State Bank of Pakistan (SBP) uncapped the dollar exchange rate to its real market price to the current Rs280 from Rs230 in the last week of January.


The central bank on Friday reported that the remittances totalled $17.994 billion during July-February 2022-23 compared to $20.183bn in the same period of last year, recording a decline of 10.8pc.