The rupee’s stability and the growth in the number of foreign workers were the main drivers of remittances, which increased 29% YoY to $2.849 billion in September from $2.208 billion in the same month the previous year, according to figures released on Wednesday by the State Bank of Pakistan (SBP).
Month over month, inflows decreased by 3%, from $2.943 billion in August of 2024.
Remittances came to $8.8 billion for the first quarter of FY25, up 39% from $6.3 billion during the same period in the previous fiscal year.
Pakistan recorded its highest-ever quarterly remittances in 1QFY25, according to brokerage Arif Habib Ltd (AHL).
