Karachi: Remittance levels in April were seen to rise by USD 20 million to reach USD 1.79 billion, as compared to figures reported for the same month of 2019 where the total stood at PKR 1.77 billion, a news source reported.
A number of economists had earlier predict that the numbers may decline given the impact of the ongoing coronavirus pandemic.
These remittances are expected to help rupee rise as against USD dollar. Overseas Pakistanis in United States and Saudi Arabia were the highest contributors to the remittances. One reason for the rise in remittances is that expatriates send more funds during Ramzan and their families also require more funds to cope with the impact of coronavirus.
The first 10 months of the current fiscal year also witnessed a growth of about 5.51% with remittances reaching USD 18.78 billion for the said period as against USD 17.80 billion for the same period last year.
