The inflow of workers' remittances sent by overseas Pakistanis increased by 13% to $2.38 billion in December 2023 as funds were dispatched through official channels following the return of stability in the rupee-dollar parity and the crackdown against illegal currency networks. The State Bank of Pakistan (SBP) reported that remittances rose 13% compared to $2.10 billion when compared to December 2022. Inflows also showed an improvement of 5.5% compared to $2.26 billion in November 2023. Remittances, however, have cumulatively slowed down by 7% in the first half (Jul-Dec) of the current fiscal year 2023-24 to $13.45 billion compared to $14.42 billion in the same period of the last fiscal year, according to the central bank. Read Call to root out illegal inflow of remittancesTopline Securities Chief Executive Officer (CEO) Muhammad Sohail said the latest monthly inflows of $2.38 billion are higher than the 2023 average of $2.20 billion a month.