Overseas Pakistanis send home $2.2 bn in Feb

KARACHI: Remittances sent home by Overseas Pakistanis in February 2022 increased by 2 per cent compared to Jan 2022, according to data shared by the State Bank of Pakistan (SBP).

Workers’ remittances clocked in at $2.2 billion in Feb 2022, above the $2 billion mark for a 21th consecutive month.

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The central bank said remittances increased by 2 per cent on month-on-month basis despite fewer working days compared to January and fell by 2.7 per cent on year-on-year basis.

During the first eight months (July-Feb) of the current fiscal year, the SBP said remittances grew by 7.6 per cent to $20.1 billion compared to the same period of last year.

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The data showed the inflows from Saudi Arabia clocked in at $558 million, United Arab Emirates (UAE) $387 million, United Kingdom $319 million, and United States of America $210 million.