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Wednesday Oct 10 2018
By
Web Desk

Remittances rise 13 percent in July-September

By
Web Desk
A dealer counts US dollars at a currency exchange shop in Karachi on October 9, 2018. Photo: AFP

KARACHI: Remittances by overseas Pakistanis registered an increase of 13 percent during July-September this year, compared to the same period last year, according to data released by the State Bank of Pakistan.

The total remittances sent during the first three months of this fiscal year amounted to $5.420 billion, as opposed to $4.719 billion sent during the same period last year.

Remittances in September increased by 12 percent from last year; the amount was $1.452 billion as against $1.294 billion registered in September last year.

Remittances are the second most significant contributor to Pakistan’s overall foreign exchange reserves after exports.

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