The inflow of workers’ remittances soared beyond market expectations and hit an all-time high at $2.8 billion in March, extending much-needed support to foreign exchange reserves and the rupee value against the US dollar. Historical trends suggest that overseas Pakistani always send record high remittances during the month of Ramazan and before Eid holidays every year, according to experts. The inflows from UAE dropped 13% to $515 million during the month compared to $591 million in the corresponding month. Read February remittances reach $2.2bOn the other hand, they surged 19% from EU to $280 million compared to $236 million. Also read Remittances hit record high at $18b“The trend of inflows suggests Pakistan that has achieved growth.

Source: The Express Tribune April 15, 2022 12:00 UTC