NEWS DESK
KARACHI: State Bank of Pakistan (SBP) said on Wednesday that workers’ remittances recorded an inflow of 2.1 billion dollars in November 2022.
In the previous month, the remittances decreased by 4.8 percent on Month-on-Month (MoM) basis and by 14.3 percent on Year-on-Year (YoY) basis. With a cumulative inflow of $12 billion in the period from July to November of the Financial Year (FY) 2023, the remittances dropped by 9.6 percent as compared to the same period last year, the SBP said in a press release.
Major sources of remittances in November
In November, remittances were mainly inflowed from Saudi Arabia (498 billion dollars), United Arab Emirates (377.8 million dollars), United Kingdom (299.1 million dollars), and the United States (229.4 million dollars).
