The remittances reached US$ 14.8 billion during July-November 2024-25 as against the remittances of US$ 11.1 billion received during July-November 2023-24.
On a year-on-year basis, workers’ remittances during November 2024 recorded an inflow of US$ 2.9 billion, posting an increase of 29.1 percent as compared to the same month of last year.
Remittances inflows during November 2024 were mainly sourced from Saudi Arabia ($729.2 million), the United Arab Emirates ($619.4 million), the United Kingdom ($409.9 million) and the United States of America ($288.2 million).
Saudi Arabia rolls over $3 bln safe deposit to Pakistan
On December 6, the State Bank of Pakistan (SBP) witnessed a surge in foreign exchange reserves with a reported increase of $620 million.
The State Bank of Pakistan in a statement said that “the total foreign reserves of Pakistan surged to US$16.62 billion supported by recent Asian Development Bank (ADB) loan transfer, while the SBP reserves crossed $12 billion as of November 29, 2024.”
According to the SBP, the total liquid foreign exchange reserves held by the central bank, increased by $620 million to $12,038.3 million after the official inflow of $500 million from ADB.
The SBP has received $500 million from the Asian Development Bank (ADB) for the Climate Change and Disaster Resilience Enhancement Program (CDREP) as a policy-based loan to support disaster risk reduction and resilience in Pakistan.
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