Karachi: The State Bank of Pakistan (SBP) on Tuesday said that remittances increased to USD 14.35 billion during the first eight months of the current fiscal year (FY2018-19) – a news source reported.
According to SBP, remittances during the same period in the last fiscal year amounted to USD 12.83 billion. It said that the current amount of inflows represented an increase of 11.8% as compared to the last FY.
Saudi Arabia once again topped the list of biggest inflows. Remittances from the Middle Eastern kingdom increased by 2.41% to reach US 3.34 billion during the first eight months of the current FY. Previously, State Bank had recorded inflows of PKR USD 3.26 billion.
The UAE came in at a close second, with recorded inflows of USD 3.036 billion. This is a 6.75% increase from last year, which saw inflows of USD 2.84 billion.
