Pakistan Remittances Mixed in February - Up Over Last Year but Down From January

Remittances increased 13% year-over-year in February to $2.249 billion, but fell 6% compared to January
Cumulative remittances for the first 8 months of FY24 fell 1.2% to $18.082 billion compared to the same period last year
Highest remittances were from Saudi Arabia at $4.381 billion, though this was still 1.2% less than last year
Rupee appreciated slightly against the US dollar to Rs279.04
Pakistan's sovereign dollar bonds hit 2-year highs on optimism after IMF said it looks forward to working with new government