Pakistan's remittances hit all-time monthly high of $3 billion in April

Pakistan’s remittances hit all-time monthly high of $3 billion in April

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KARACHI: Remittances from overseas Pakistani workers still topped $3 billion in April for the first time in the country’s history, the State Bank of Pakistan said on Friday.

Remittances rose to $3.1 billion in April, up 11.2 percent month-on-month and 11.9 percent year-on-year, the central bank said in a statement.

In addition, remittances in the first 10 months of the current fiscal year increased by 7.6 percent to $26.1 billion compared with the same period last year, the statement said.

Inflows in April were mainly from Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States, it added.

Worker remittances play an important role in the Pakistani economy as they are one of the main sources of foreign exchange.

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