KARACHI: State Bank of Pakistan (SBP) said Thursday that with $2.8 billion of inflows during March 2022, workers’ remittances continued their unprecedented run of remaining above $2 billion since June 2020.

According to SBP information, this is the highest ever monthly level for workers’ remittances. In terms of growth, during March 2022, remittances increased by 28.3 percent on m/m basis and 3.2 percent on y/y basis. Cumulatively at $23.0 billion, remittances grew by 7.1 percent during 9 months of FY22 compared with last year.

Remittances inflows during March 2022 were mainly sourced from Saudi Arabia ($678 million), United Arab Emirates ($515 million), United Kingdom ($401 million) and United States of America ($300 million).