Abroad staff’ remittances rise 14.46laptop to $2 billion in October

KARACHI: Abroad Pakistanis remitted $7.47 billion within the first 4 months (July to October) of FY20, in contrast with $7.61 billion acquired throughout the identical interval within the previous yr, based on official information launched by the State Financial institution of Pakistan (SBP) on Tuesday.

Throughout Oct this yr, the central financial institution mentioned, the influx of remittances amounted to $2 billion, which is 14.46 per cent greater than September 2019 and a couple of.89 per cent decrease than October 2018.

The country-wise breakdown for the month of October exhibits that inflows from Saudi Arabia, UAE, USA, UK, GCC international locations (together with Bahrain, Kuwait, Qatar and Oman) and EU international locations amounted to $468.18 million, $398.96 million, $322.38 million, $328.69 million, $191.77 million and $60.94 million respectively in contrast with the influx of $494.53 million, $419.41 million, $325.19 million, $322.29 million, $200.87 million and $57.42 million respectively in October 2018.

Remittances acquired from Malaysia, Norway, Switzerland, Australia, Canada, Japan, and different international locations throughout October 2019 amounted to $229.88 million collectively as towards $240.57 million acquired in October final yr.

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