Pakistan received $3.8 billion in remittances during March, 17% higher than compared to February, the State Bank of Pakistan (SBP) announced on Wednesday.
The inflows are the highest recorded in any month of this fiscal year, but were 5% lower than the $4 billion recorded in March 2025. According to the central bank’s data, almost all countries showed positive growth, with observers crediting Ramzan for the climb over February and the Iran war for the marginal decrease.
The data issued by the SBP showed the country has received a cumulative $30.321 billion in July 2025-March 2026, 8.2% higher than the corresponding period of last year.
The central bank also said it had paid $1.4 billion toward the maturity of Eurobonds, while it has already announced that $3.5 billion would be repaid to the U.A.E. this month on the maturity of a loan. The outflow of $4.9 billion has raised concerns over currency devaluation, as it would likely see a significant reduction in foreign reserves, recorded at $16.5 billion on March 27, 2026.
Remittances during March 2026 were mainly sourced from Saudi Arabia, $918.4 million, the United Arab Emirates, $824 million, and the United Kingdom, $587.3 million. According to the SBP, the largest source of remittances remains Saudi Arabia, whose inflows in the first nine months of the ongoing fiscal year have reached $7.086 billion. In second place is the U.A.E., with $6.267 billion. Third place went to the United Kingdom, which has sent $4.6 billion in the same period.
Additionally, the cumulative inflow from European Union countries has reached $3.9 billion; from GCC countries $2.891 billion; and from the U.S. $2.661 billion.
Amidst struggling exports, Pakistan increasingly relies on remittances to cover its trade deficit, service debt, and build foreign exchange reserves.