The State Bank of Pakistan (SBP) reported that workers’ remittances reached $3.5 billion in January, contributing to an 11.3% rise during the first seven months of fiscal year 2026 (Jul-Jan FY26). The total remittance inflow during this period stood at $23.2 billion, compared to $20.9 billion in the same period last year. According to SBP, "In terms of growth, remittances increased by 15.4pc on a year-to-year basis." The January remittances mainly came from Saudi Arabia ($739.6 million), United Arab Emirates ($694.2 million), the United Kingdom ($572.1 million), and the United States ($294.7 million). December’s remittance of $3.6 billion was the highest in the current fiscal year, driven by government incentives to use formal channels and a relatively stable exchange rate. However, currency experts warn that remittance growth in FY26 is slower than the previous year. They suggest a “managed” exchange rate policy may divert some money away from official banking routes. Pakistan ranks among the top countries receiving foreign money through remittances. While some economists view the rising number of workers going abroad as a brain drain, the government sees these inflows as a boost to the country's external balance. Last year, record remittances of $38 billion helped partially repay external debt, increase State Bank reserves, stabilize the currency, and achieve a current account surplus for the first time in over ten years.