Pakistan Remittances Rise in October but Still Down This Year
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Remittances sent by overseas Pakistanis grew by 11.5% to $2.5 billion in October 2022 compared to September 2022.
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However, remittances increased by only 9.6% compared to October 2021.
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Remittances declined by 13.3% in the July-October 2022 period compared to the same period in 2021.
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The largest declines were seen in remittances from UAE, Saudi Arabia, US and UK.
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The SBP's foreign exchange reserves increased slightly by $4 million to $7.51 billion in the week ending November 3, 2022.