Remittances exceed $2bn mark for ninth consecutive month

KARACHI: According to the data released by the State Bank of Pakistan (SBP), the value of remittances has exceeded the $2bn mark for the ninth consecutive month.

The value of remittances sent by overseas Pakistanis is recorded at $2.2bn in the month of February 2021 which has shown a growth of 24.2% as compared to the value recorded in February 2020.

Moreover, the central bank has termed the growth of the remittance during July-Feb FY21 unprecedented as the inflows from overseas Pakistanis were recorded at $18.7bn during this period.

Increase in remittances corresponds to the use of banking channels introduced by the government for overseas Pakistanis for sending their money to Pakistan.

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