Ƶ leads Pakistan September remittances as inflows rise to $3.2 billion

Pakistani customers enter a foreign currency exchange shop in Karachi, Pakistan, on October 14, 2010. (AFP/File)
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  • The inflows surged 11.3 percent year on year in Sept., reaching $9.5 billion in the first quarter of this fiscal year
  • Pakistan received a record $38.3 billion in remittances in last fiscal year, reporting an increase of about $8 billion

ISLAMABAD: Pakistan recorded worker remittances inflows of $3.2 billion in the month of September, the country’s central bank said on Thursday, with Ƶ being the leading source with $750 million.

Remittances are a key pillar of Pakistan’s external finances, providing hard currency that supports household consumption, helps narrow the current-account gap and bolsters foreign exchange reserves. The steady pipeline from Gulf economies, led by Ƶ and the UAE, has remained crucial for Pakistan’s balance of payments.

Remittance inflows in September increased by 11.3 percent on a year-on-year basis, according to the State Bank of Pakistan (SBP).

“Remittances inflows during September 2025 were mainly sourced from Ƶ ($750.9 million), United Arab Emirates ($677.1 million), United Kingdom ($454.8 million) and United States of America ($269.0 million),” the SBP said in a statement.

Cumulatively, workers’ remittances increased by 8.4 percent to $9.5 billion during the first quarter of this fiscal year, compared to $8.8 billion received during the same period last year.

Pakistan received a record $38.3 billion in workers’ remittances during the last fiscal year, reporting an increase of about $8 billion over a 12-month period — exceeding the country’s ongoing $7 billion International Monetary Fund (IMF) loan program.

According to the SBP, Ƶ led all contributors during FY25, with remittances totaling $9.34 billion, followed by the United Arab Emirates at $7.83 billion, the United Kingdom at $5.99 billion and the United States at $3.72 billion.

Remittances from Gulf Cooperation Council (GCC) countries excluding Ƶ and the UAE totaled $3.71 billion, while EU countries contributed $3.53 billion.

These inflows help stabilize Pakistan’s economy and give policymakers breathing room during periods of tight external financing conditions.