Foreign remittances down to $2.4b in Sept: SBP

KARACHI: The State Bank of Pakistan (SBP) on Tuesday said the overseas Pakistani workers sent home total remittances of $2.4 billion during the month of September.

"In terms of growth, during this month (September 2022) the remittances decreased by 10.5 percent on month-on-month basis and by 12.3 percent on year-on-year basis," an SBP press release said on Tuesday.

With cumulative inflow of $7.7 billion during July-September 2022, the remittances decreased by 6.3 percent as compared to the same period last year, it added.

The SBP said the remittances inflow last month were mainly sourced from Saudi Arabia ($616.6 million), the United Arab Emirates ($474.3 million), the United Kingdom ($307.8 million) and the United States ($268.1 million).