{"id":88678,"date":"2022-09-14T14:55:36","date_gmt":"2022-09-14T09:55:36","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88678"},"modified":"2022-09-14T14:55:42","modified_gmt":"2022-09-14T09:55:42","slug":"sbp-8-increase-remittance-august","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-8-increase-remittance-august.html","title":{"rendered":"SBP reveals 8% increase in remittance in August"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) revealed on Tuesday (September 13) that remittances were 8% higher in August than in July, news sources reported.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-donations-foreign-remittances.html\" data-type=\"post\" data-id=\"88655\" target=\"_blank\" rel=\"noreferrer noopener\">SBP permits donations to flood victims through foreign remittances<\/a><\/p>\n\n\n\n<p><br>Non-resident Pakistanis (NRPs) sent USD 2.7 billion in August, up from USD 2.524 billion in July 2022, a USD 200 million increase. On a year-on-year basis, NRPs remitted 1.5% higher remittances in August 2022 than in August 2021, totalling USD 2.683 billion. However, cumulative inflows of worker remittances declined by 3.2% in the first two months of the current fiscal year (FY-23) to USD 5.247 billion, compared to USD 5.418 billion recorded in the same time last year (FY-22). Pakistanis residing in<a href=\"https:\/\/www.zameen.com\/news\/saudia-invest-usd-1-bn-pakistan.html\" data-type=\"post\" data-id=\"88243\" target=\"_blank\" rel=\"noreferrer noopener\"> Saudi Arabia<\/a> were reported to have sent the highest amount of USD 691.8 million, followed by workers in the <a href=\"https:\/\/www.zameen.com\/news\/uae-envoy-pakistani-businessmen-invest.html\" data-type=\"post\" data-id=\"88193\" target=\"_blank\" rel=\"noreferrer noopener\">United Arab Emirates<\/a> with USD 531.4 million, the United Kingdom (UK) with USD 369.7 million, and the United States (US), which sent USD 294.4 million.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-monetary-policy-unchanged-15.html\" data-type=\"post\" data-id=\"88149\" target=\"_blank\" rel=\"noreferrer noopener\">SBP keeps the monetary policy unchanged at 15%<\/a><\/p>\n\n\n\n<p>Despite the changes in total remittances, Saudi Arabia remained the largest source of foreign exchange reserves for the country. The overall funds are expected to remain within the forecast margins due to increased liquidity funds received from the IMF and friendly countries in the current fiscal year, which the government claims are sufficient for meeting the balance of payment and financial stability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) revealed on Tuesday (September 13) that remittances were 8% higher in August than in July, news sources reported.\u00a0 Read: SBP permits donations to flood victims through foreign remittances Non-resident Pakistanis (NRPs) sent USD 2.7 billion in August, up from USD 2.524 billion in July 2022, a USD 200 million increase. On a year-on-year basis, NRPs remitted 1.5% higher remittances in August 2022 than in August 2021, totalling USD 2.683 billion. However, cumulative inflows of worker remittances declined by 3.2% in the first two months of the current fiscal year (FY-23) to USD 5.247 billion, compared to USD 5.418 billion recorded in the same time last year (FY-22). Pakistanis residing in Saudi Arabia were reported to have sent the highest amount of USD 691.8 million, followed by workers in the United Arab Emirates with USD 531.4 million, the United Kingdom (UK) with USD 369.7 million, and the United States (US), which sent USD 294.4 million.\u00a0 Read: SBP keeps the monetary policy unchanged at 15% Despite the changes in total remittances, Saudi Arabia remained the largest source of foreign exchange reserves for the country. The overall funds are expected to remain within the forecast margins&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[54071,52825,54070,54069],"persona":[],"class_list":{"0":"post-88678","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-remittance-update","9":"tag-sbp-news","10":"tag-sbp-remittance-update","11":"tag-sbp-reveals-8-increase-in-remittance-in-august","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP reveals 8% increase in remittance in August - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) revealed on Tuesday (September 13) that remittances were 8% higher in August than in July, news sources\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-8-increase-remittance-august.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP reveals 8% increase in remittance in August - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) revealed on Tuesday (September 13) that remittances were 8% higher in August than in July, news sources\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-8-increase-remittance-august.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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