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Articles for tag: 25-year remittance trends, August, billion, Details of the state bank, eu, GCC, impact on oil prices, jump, overseas pakistanis, remittances, Remittances from Pakistan August 2024, Remittances to the Middle East, rupee-dollar rate, Saudi Arabia, Tahir Abbas, UAE, US

September 10, 2024

News Desk

Remittances jump to $3 billion in August

KARACHI: Worker remittances sent home by overseas Pakistanis remained strong at nearly $3 billion in August 2024, a significant increase of 40.5% compared to the same month last year. T Its strong growth is attributed to the sustained stability of the rupee against the dollar and the rise in overseas employment, particularly in the Middle East, which has allowed more expatriates to support their families back home. According to data released by the State Bank of Pakistan (SBP), remittance inflows increased to $2.94 billion in August 2024 from $2.09 billion in August 2023. However, inflows showed a slight decline compared

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