Workers’ remittances surge by 17% YoY in Sept’21

MG News | October 08, 2021 at 04:05 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

October 8, 2021 (MLN): Remittances by overseas Pakistanis continued to surge, recording $2.7 billion in September 2021, up by 0.5% MoM and 16.9% YoY basis.

Cumulatively, remittances reached $8.0bn in 1QFY22; a significant growth of 12.5% over the same period last year.

The aforesaid announcement was made by the State Bank of Pakistan (SBP) on its Twitter handle.

Country-wise, remittance inflows during September 2021 were mainly sourced from Saudi Arabia ($691 million), United Arab Emirates ($502 million), United Kingdom ($370 million) and the United States ($245 million).

Proactive policy measures by the Government and SBP to incentivize the use of formal channels, curtailed cross-border travel in the face of COVID-19, altruistic transfers to Pakistan amid the pandemic, and orderly foreign exchange market conditions have positively contributed towards the sustained improvement in remittance inflows since last year.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	169,600.41 183.50M	-0.48% -825.22
ALLSHR	102,686.26 565.98M	-0.36% -370.76
KSE30	50,456.98 75.27M	-0.51% -260.85
KMI30	242,899.57 56.32M	-0.49% -1202.28
KMIALLSHR	66,568.03 354.92M	-0.38% -251.61
BKTi	46,884.49 11.66M	-0.44% -204.90
OGTi	34,745.74 4.31M	-0.76% -266.71

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	83,880.00	83,930.00 83,730.00	-60.00 -0.07%
BRENT CRUDE	102.92	107.87 102.30	-2.36 -2.24%
RICHARDS BAY COAL MONTHLY	123.00	0.00 0.00	-1.30 -1.05%
ROTTERDAM COAL MONTHLY	137.40	137.40 135.80	-0.60 -0.43%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	88.85	89.07 88.82	-0.53 -0.59%
SUGAR #11 WORLD	18.84	19.02 18.40	0.28 1.51%