Eidul Azha boosts remittances to near record highs
KARACHI: Remittance inflows from workers sent home by overseas Pakistanis remained robust against expectations in June 2024, posting the second-highest monthly receipts on record at $3.16 billion amid Eidul Azha celebrations. That increase pushed full-year inflows past $30 billion in the fiscal year ending June 30, 2024. Healthy remittance numbers are expected to keep the current account deficit modest for both the month and the full year, extending support for the rupee to remain strong against the US dollar in the near term (up to six months). According to State Bank of Pakistan (SBP) data, incoming remittances increased by 44%
