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Remittances jump to $2 billion in first month of FY20

KARACHI: The country received US$2 billion in remittances in the first month of the fiscal year 2019-20, reported ARY News on Friday.

According to a spokesperson for the State Bank of Pakistan (SBP), inflows from overseas Pakistanis saw an increase of $50 million in July as compared with the corresponding period of last year.

Highest inflows of $470 million came from Saudi Arabia, followed by $420.71 million from the UAE, $330 million from the USA and $290 from the UK.

The SBP spokesperson said a cumulative $190 million in remittances were received from overseas Pakistanis in Bahrain, Kuwait, Qatar, and Oman.

He said the expatriates living in the European countries sent remittances worth US$50.83 million.

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