In June, remittances rose to $2.76 billion, increasing by 18.4 percent on m/m basis and 1.7 percent on y/y basis.

In June, remittances were mainly sourced from Saudi Arabia ($666 million), United Arab Emirates ($495 million), United Kingdom ($455 million) and United States of America ($285 million).

Cumulatively, in FY22, remittances rose to a record $31.2 billion, increasing by 6.1 percent compared to FY21.