Most restrict per particular person, per calendar 12 months, to purchase overseas foreign money, within the type of money or outward remittances, may also be decreased from $100,000 to $50,000. picture: file
KARACHI:
Pakistan obtained $3.46 billion in staff’ remittances in January 2026, sustaining sturdy exterior inflows regardless of blended efficiency throughout main corridors, with Europe and Western economies exhibiting sturdy development whereas remittances from the US and elements of Asia weakened, in line with provisional information launched by the State Financial institution of Pakistan (SBP).
The January inflows have been barely decrease than the $3.59 billion recorded in December 2025, however considerably greater than the $3 billion in January 2025, reflecting continued resilience in diaspora transfers amid international financial uncertainties and evolving migration traits.
Cumulatively, remittances throughout July-January FY26 reached $23.2 billion, in contrast with $20.85 billion in the identical interval final fiscal 12 months, representing a rise of round 11.3%. The rise signifies regular momentum in abroad inflows that proceed to assist Pakistan’s exterior account stability.
Within the final six months, remittances have averaged $3.331 billion, whereas during the last 12 months they’ve averaged $3.387 billion. Remittances in January 2026 have been greater than each the six- and 12-month averages, famous Nasheed Malik, Head of Analysis at Development Securities.
Nation-wise information revealed a notable shift in remittance patterns, with conventional Gulf markets remaining dominant however Europe and superior economies rising as faster-growing sources. Saudi Arabia remained the only largest contributor with $7.39 billion in January, adopted by the United Arab Emirates at $6.94 billion and the UK at $5.72 billion, in line with the SBP Statistics Division.
Nevertheless, remittances from the US declined to $294.7 million, exhibiting a year-on-year contraction and signalling attainable moderation in transfers from one among Pakistan’s traditionally vital corridors amid tariff-related tensions.
In distinction, remittances from European Union nations surged, reaching $479.6 million in January, whereas cumulative EU inflows throughout FY26 rose by 24.6%. The rise displays rising labour migration and improved remittance formalisation from the area.
Equally, inflows from Australia and Canada recorded sturdy positive aspects on a fiscal-year foundation, growing by 46.5% and 29.5%, respectively. This means rising expert migration to Western economies and a gradual diversification of Pakistan’s remittance base past the Gulf Cooperation Council (GCC) nations.
Regardless of diversification, Gulf nations continued to dominate general remittance flows, accounting for a serious share of whole inflows. Saudi Arabia, the UAE and different GCC nations collectively contributed the majority of transfers, reflecting the continued significance of blue-collar labour migration and construction-sector employment within the area, though the share of educated Pakistani manpower can also be on the rise.
But, the expansion trajectory inside the Gulf appeared uneven, with some corridors exhibiting slower month-to-month momentum, probably reflecting labour market changes.
Economists say sustained remittance inflows are taking part in a vital position in stabilising Pakistan’s exterior accounts by offsetting commerce deficits and supporting overseas change reserves. The sturdy efficiency in FY26 thus far offers reduction to policymakers grappling with export volatility, debt-servicing pressures and ongoing IMF-driven macroeconomic reforms.
The rise in inflows from non-traditional markets additionally signifies structural adjustments in migration patterns, with expert staff more and more heading to Europe, Canada and Australia, whereas conventional labour markets within the Center East proceed to offer a gradual base.
The SBP initiatives remittances for FY26 to achieve $42 billion, with greater inflows anticipated in March and June 2026 because of the Eid affect, Malik acknowledged. This is able to symbolize a rise of about 10% year-on-year in FY26 in contrast with $38.3 billion recorded in FY25.
“With the present development price of remittances at 11%, and better inflows anticipated within the upcoming Eid seasons, we anticipate the SBP goal to be achieved in FY26,” he mentioned.
In the meantime, gold costs witnessed a rise within the native market on Tuesday, as the value of pure gold per tola rose by Rs1,500 to settle at Rs526,262, in line with the All Pakistan Sarafa Gems and Jewellers Affiliation.
Likewise, the value of 10 grams of pure gold elevated by Rs1,286 to Rs451,184, whereas the value of 10 grams of 22-karat gold went up by Rs1,179 to Rs413,600.
Within the worldwide market, the value of gold elevated by $15 to $5,035 per ounce.
In the meantime, silver costs remained unchanged within the native market, with the value of 24-karat silver per tola standing at Rs8,615, whereas the value of 10 grams of silver stayed steady at Rs7,385.
The value of silver within the worldwide market additionally remained unchanged at $81.40 per ounce.
Moreover, the rupee on Tuesday appreciated by three paisa in opposition to the US greenback in interbank buying and selling and closed at Rs279.67, in contrast with the day gone by’s closing at Rs279.70.
