Trends - Remittances - Business Recorder

Remittances

Remittances from UAE to Pakistan bound to increase significantly in Ramadan

A double-digit growth in remittances is expected during Ramadan, with the best performing corridors being India, Pakistan, Egypt, Bangladesh and Indonesia.

Published 15 Apr, 2021 12:00pm

BR Research

Remittances – the splendid growth streak persists.

As per the State Bank of Pakistan’s official data. remittances in March 2021 stood at $2.725 billion, up by 43...

Published 14 Apr, 2021 07:25am

Markets

USD to decline further against PKR; Expert anticipates record Remittances in Eid season

“Each month $300 to $400 million dollars are coming into interbank market through exchange companies which have led to the rise in foreign exchange reserves and strengthen the local currency,” he said.
Malik Bostan informed that Pakistan has become the fourth largest in terms of remittance inflows, with India at the top followed by China and the Philippines.

Published 13 Apr, 2021 02:11pm

July-March remittances up 26pc YoY

KARACHI: Workers’ remittance sent by overseas Pakistanis rose by 26 percent during the first nine months of this...

Updated 13 Apr, 2021 09:29am

Pakistan

Country witnesses increase of 26pc in remittances: PM

He said the overseas Pakistanis sent over two billion dollars for tenth straight months despite Covid-19, breaking all records.

Published 12 Apr, 2021 06:25pm

BR Research

Grab that low hanging fruit

To many, the rise in repatriation of profits and dividend by foreign direct investors is a sign of investor...

Published 01 Apr, 2021 07:35am

BR Research

Currency diary: Rupee appreciation marches on

The currency appreciation continues, crossing the psychological level of 155 on Friday. This is almost the pre-Covid...

Published 29 Mar, 2021 07:25am

Business & Finance

SBP launches a FX Portal for end-to-end digitalization of FX requests

The State Bank of Pakistan (SBP) has launched a Foreign Exchange (FX) Portal for end-to-end digitalization of FX requests.
Currently, customers of 22 banks can submit their cases digitally from their workplace.

Published 27 Mar, 2021 06:21pm

BR Research

Current account bliss continues.

The current account almost hung in balance in Feb21 – with a meager deficit of $50 million. The eight month...

Updated 24 Mar, 2021 10:05am

BR Research

FDI platter continues to shrink.

Foreign direct investment continues to post negative growth. Central bank’s latest data shows that net flows in...

Published 22 Mar, 2021 07:35am

Feb C/A deficit narrows $50m MoM

KARACHI: The country’s current account deficit narrowed to $50 million in February 2021 compared to $210 million ...

Updated 22 Mar, 2021 09:41am

Markets

Free-float exchange rate major contributor behind PKR rise against USD: Expert

The rise in Pakistan's remittances and exports and the accumulation of dollars in the SBP Roshan Digital Accounts are among the factors behind the rupee appreciation against the dollar.

Updated 19 Mar, 2021 12:00pm

BR Research

Remittances continue to surprise

Among the many unexpected is the continued as well as robust growth in home remittances to Pakistan. The country...

Published 16 Mar, 2021 07:25am

Jul-Feb remittances up 24.1pc YoY

KARACHI: Workers’ remittances continued to post a strong growth, surging by over 24 percent during the first eight...

Published 12 Mar, 2021 05:10am

Business & Finance

Workers Remittances see 'exceptional' growth of over 24pc in February

On a cumulative basis, remittances rose to an unprecedented $18.7bn during Jul-Feb FY21, up 24.1pc compared to the same period last year.

Updated 12 Mar, 2021 10:07am

BR Research

RDA gets going

The Roshan Digital Account (RDA) is gaining pace. The scheme was launched on 10th Sep 2020, and the amount received...

Published 23 Feb, 2021 07:25am

Remittances beat Moody’s expectation

ISLAMABAD: Increased workers’ remittances to Pakistan are credit positive for banks, says Moody’s Investor...

Updated 23 Feb, 2021 09:31am

Editorials

Resilient remittances?

EDITORIAL: The feel-good factor provided by high remittances for an unusually long time - exceeding $2 billion for...

Published 21 Feb, 2021 05:10am

BR Research

Remittance bonanza

The upbeat momentum of home remittances continues. The less travel and state level pressure to curb on informal...

Published 16 Feb, 2021 07:25am

PM cheerful at rise in remittances

ISLAMABAD: Prime Minister Imran Khan on Monday said the country had made its record for remittances above $2 billion...

Updated 16 Feb, 2021 09:31am

Pakistan

PM thanks overseas Pakistanis for record $2bn remittances for consecutive 8 months

He said to date in this fiscal year, the remittances were up by 24 percent as compared to last year.

Published 15 Feb, 2021 06:58pm

Pakistan

Record increase in remittances over last eight months: PM

He said large scale manufacturing saw another double digit growth of 11.4 percent in the month of December last year.

Published 15 Feb, 2021 06:33pm

Business & Finance

Pakistan’s Workers Remittances exceeded $2bn in Jan 2021

The growth in remittances recorded an increase of 19 percent over January 2020. However, remittances remained slightly lower from December 2020 level of $2.4 billion.

Updated 16 Feb, 2021 09:40am

Business & Finance

Cemex posts $70mn Q4 profit with higher sales in US, Mexico

The Monterrey-based company, which operates in more than 50 countries reported a 9% increase in net sales to $3.54 billion.
In the United States, Cemex's biggest market, net sales increased 8% to $1.0 billion, it said.

Published 11 Feb, 2021 06:33pm

Business & Finance

SBP Modernizes Foreign Exchange Regulations to facilitate Startups, Fintechs & Exports

The State Bank of Pakistan (SBP) has notified revisions in chapter 20 of the Foreign Exchange Manual to modernize foreign exchange regulations for facilitating startups, fintechs and exports in Pakistan.

Updated 10 Feb, 2021 09:56pm

BR Research

Currency – no excitement

The current account was in deficit in Dec-2020 after five straight months of surpluses. This coupled with SBP ...

Updated 27 Jan, 2021 10:38am

BR Research

Think out-of-box FDI (II)

While there is a need to rethink FDI policy and invigorate and charge up IPAs’ role – as highlighted last in ...

Published 22 Jan, 2021 07:35am

C/A surplus streak ends

KARACHI: Pakistan’s current account posted a $ 662 million deficit in December 2020 after surpluses for five...

Published 21 Jan, 2021 04:23am

BR Research

Think out-of-box FDI

As SBP puts it in its latest quarterly report, the ripple effect (decline in FDI from the pandemic) was not felt as...

Published 20 Jan, 2021 07:30am

Pakistan

IT exports remittances surge 38.16 percent

Export remittances comprising computer and call center services have surged to US $648.940 million during July-November of FY 2020-21.

Published 19 Jan, 2021 07:02pm

Gainers
Losers
Leaders

Stock	Price
786 Investments / Apr 16 786 Investments Limited(786)	8.80 ▼ 0.00 (0.00%)
AL- Abbas / Apr 16 Al-Abbas Sugar Mills Limited(AABS)	370.00 ▼ 0.00 (0.00%)
Agro Allianz / Apr 16 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 16 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 16 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 16 Allied Bank Limited(ABL)	70.18 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 16 Abbott Laboratories (Pakistan) Limited(ABOT)	703.87 ▼ 0.00 (0.00%)
Abson Ind. / Apr 16 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Apr 16 Attock Cement Pakistan Limited(ACPL)	167.92 ▼ 0.00 (0.00%)
Adam Sugar / Apr 16 Adam Sugar Mills Limited(ADAMS)	24.00 ▼ 0.00 (0.00%)

Stock	Price
786 Investments / Apr 16 786 Investments Limited(786)	8.80 ▼ 0.00 (0.00%)
AL- Abbas / Apr 16 Al-Abbas Sugar Mills Limited(AABS)	370.00 ▼ 0.00 (0.00%)
Agro Allianz / Apr 16 Agro Allianz limited(AAL)	11.10 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 16 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 16 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 16 Allied Bank Limited(ABL)	70.18 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 16 Abbott Laboratories (Pakistan) Limited(ABOT)	703.87 ▼ 0.00 (0.00%)
Abson Ind. / Apr 16 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Attock Cement / Apr 16 Attock Cement Pakistan Limited(ACPL)	167.92 ▼ 0.00 (0.00%)
Adam Sugar / Apr 16 Adam Sugar Mills Limited(ADAMS)	24.00 ▼ 0.00 (0.00%)

Stock	Volume

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 15	152.85
USD PKR Interbank Buying / Apr 15	152.75
USD to Japanese Yen / Apr 15	108.72
USD to Swiss Franc / Apr 15	0.92
Pound Sterling to USD / Apr 15	1.38
Euro to USD / Apr 15	1.20
UK LIBOR % / Apr 15	0.07

Stock	Volume
S&P 500 / Apr 15	4170.42
India Sensex / Apr 15	48803.68
Tokyo Nikkei / Apr 15	29642.69
Nasdaq / Apr 15	14038.76
Hang Seng / Apr 15	28793.14
FTSE 100 / Apr 15	6983.50
Dow Jones / Apr 15	34035.99
Germany DAX 30 / Apr 15	15255.33
France CAC40 / Apr 15	6234.14

Item	Value
Crude Oil / Apr 15	63.38
Karachi Cotton Assoc. / Apr 15	10800.00
Gold 10 Grams / Apr 15	94564.00
Gold Spot / Apr 15	1736.80
Cotton / Apr 15	86.26

Remittances

Remittances from UAE to Pakistan bound to increase significantly in Ramadan

Remittances – the splendid growth streak persists.

USD to decline further against PKR; Expert anticipates record Remittances in Eid season

July-March remittances up 26pc YoY

Country witnesses increase of 26pc in remittances: PM

Grab that low hanging fruit

Currency diary: Rupee appreciation marches on

SBP launches a FX Portal for end-to-end digitalization of FX requests

Current account bliss continues.

FDI platter continues to shrink.

Feb C/A deficit narrows $50m MoM

Free-float exchange rate major contributor behind PKR rise against USD: Expert

Remittances continue to surprise

Jul-Feb remittances up 24.1pc YoY

Workers Remittances see 'exceptional' growth of over 24pc in February

RDA gets going

Remittances beat Moody’s expectation

Resilient remittances?

Remittance bonanza

PM cheerful at rise in remittances

PM thanks overseas Pakistanis for record $2bn remittances for consecutive 8 months

Record increase in remittances over last eight months: PM

Pakistan’s Workers Remittances exceeded $2bn in Jan 2021

Cemex posts $70mn Q4 profit with higher sales in US, Mexico

SBP Modernizes Foreign Exchange Regulations to facilitate Startups, Fintechs & Exports

Currency – no excitement

Think out-of-box FDI (II)

C/A surplus streak ends

Think out-of-box FDI

IT exports remittances surge 38.16 percent

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