Worker Remittances remain over USD 2.0 Billion in October

MG News | November 12, 2020 at 09:38 AM GMT+05:00

0:00

November 12 2020 (MLN): Workers’ remittances remained above $ 2.0 billion for the fifth consecutive month in October 2020.

According to a statement released by the State Bank of Pakistan (SBP) workers’ remittances amounted to $ 2.3 billion during October 2020, increasing by 14.1 percent compared to October 2019.

During Jul-Oct FY21, workers’ remittances increased to $9.4 billion, recording a growth of 26.5 percent over the same period last year.

A large part of y/y increase in October 2020 was sourced from Saudi Arabia (30 percent), United States (16 percent) and United Kingdom (14.6 percent).

Improvements in Pakistan’s FX market structure and its dynamics, efforts under the Pakistan Remittances Initiative (PRI) to formalize the flows and limited cross-border travelling contributed to the growth in remittances.

Press Release

Related News

Name	Price/Vol	%Chg/NChg
KSE100	172,400.73 346.40M	0.92% 1570.51
ALLSHR	103,483.96 796.97M	0.55% 561.58
KSE30	52,734.06 184.56M	1.08% 564.57
KMI30	245,565.33 110.97M	1.07% 2605.02
KMIALLSHR	67,233.70 319.67M	0.68% 453.28
BKTi	47,898.10 95.85M	0.98% 462.51
OGTi	33,838.49 13.78M	1.39% 464.88

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,825.00	90,115.00 86,915.00	75.00 0.09%
BRENT CRUDE	60.80	62.67 60.56	-1.44 -2.31%
RICHARDS BAY COAL MONTHLY	87.50	0.00 0.00	1.05 1.21%
ROTTERDAM COAL MONTHLY	94.50	0.00 0.00	-0.70 -0.74%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	56.93	58.88 56.65	-1.42 -2.43%
SUGAR #11 WORLD	15.17	15.28 15.08	-0.12 -0.78%