Overseas Pakistanis remit $11.38bn in seven months

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KARACHI: Overseas Pakistanis have remitted $11.38 billion foreign exchange during first seven months (July – January) of the current fiscal year, showing 3.5 percent growth, when compared with the remittance sent home during the corresponding months of the last fiscal year, State Bank of Pakistan (SBP) said on Monday.
The overseas Pakistanis remitted $10.99 billion during July – January of fiscal year 2016/2017.
During January 2018, the inflow of worker’s remittances amounted to $1638.72 million, which is 4.92 percent lower than December 2017 and 10.10 percent higher than January 2017.
The country wise details for the month of January 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $383.91 million, $351.58 million, $223.94 million, $235.1 million, $186.33 million and $56.4 million, respectively compared with the inflow of $434.15 million, $323.29 million, $175.39 million, $180.91 million, $186.41 million and $31.69 million, respectively in January 2017.
Remittances received from Norway, Switzerland, Australia, Canada, Japan and other countries during January 2018 amounted to $201.46 million together as against $156.53 million received in January 2017.

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