Amid the increase in remittances, the price of the US dollar has been decreased by 10 paisas against the Pakistani rupee in interbank trading.
The US dollar is being traded at Rs278.60 in the interbank.
Pakistan witnessed a significant increase in workers' remittances in August 2024, with inflows reaching $2.9 billion. This marks a 40.5% rise compared to the same month last year, highlighting the critical role of overseas Pakistanis in supporting the country’s economy.
The cumulative remittances for the first two months of the fiscal year 2025 (FY25) also showed robust growth, reaching $5.9 billion—up by 44% compared to $4.1 billion during the corresponding period of the previous fiscal year (FY24).
Saudi Arabia led the remittance inflows, contributing $713.1 million in August 2024. The United Arab Emirates (UAE) followed with $538.4 million, while the United Kingdom (UK) and the United States of America (USA) accounted for $474.8 million and $322.4 million, respectively.
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