Pakistan maintained a strong momentum in workers’ remittance for a the sixth consecutive month in November with over $2billion, the State Bank of Pakistan (SBP) reported on Friday.
Workers’ remittance increased 28.4% year-on-year in November 2020, pushing the cumulative flows to $11.8 billion during the July-November FY21 with a rise of 26.9% compared to same period last year.
2/2 In aggregate, remittances rose to an unprecedented $11.8 billion during Jul-Nov FY21, 26.9% higher than the same period last year. For details see: https://t.co/7XBd4uNES4
— SBP (@StateBank_Pak) December 11, 2020
“This significant growth reflects continued government and SBP efforts to formalize remittances under Pakistan Remittances Initiative (PRI), growing use of digital channels amid limited international travel, orderly exchange market conditions and improved global economic activity,” said the central bank.
