Remittance inflows decreased by almost 5% month over month in November of the fiscal year 2023, according to analysts, who blame the decline on the growth of "unofficial channels" like hawala and hundi.
The business news of Pakistan of According to data made public by the State Bank of Pakistan (SBP), the total amount of inflows was $2.21 billion in October and $2.1 billion in November of FY23. The data show that the inflows decreased by 4.8% month over month.