ISLAMABAD, Aug. 8 (Xinhua) -- Pakistan received 3.2 billion U.S. dollars in workers' remittances in July, a year-on-year increase of 7.4 percent, the State Bank of Pakistan said on Friday.
According to the central bank, major sources of inflows included Saudi Arabia with 823.7 million dollars, the United Arab Emirates with 665.2 million dollars, Britain with 450.4 million dollars, and the United States with 269.6 million dollars.
The rise reflected continued confidence of overseas Pakistanis in formal banking channels and was expected to support the country's external account position.
Remittances play a vital role in Pakistan's economy by providing a stable source of foreign exchange, easing pressure on current account, and supporting household consumption. ■
