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Money coming in for Eid grew by 15.4%, with Saudi Arabia and the UAE each receiving over $1 billion.
BY Mahnoor | 11-06-2026
KARACHI: Money sent home by Pakistani workers reached a record high of $4.3 billion in May 2026. This increase was driven by Eid celebrations, showing how much overseas Pakistanis continue to support their country’s economy.
Recent data from the State Bank of Pakistan (SBP) shows a double-digit rise in these funds. For May 2026, the SBP reported $4.251 billion, which is a 15.4% increase from May 2025. Monthly figures also showed strong growth, marking a successful period for the current fiscal year.
Nasheed Malik, a research expert at Growth Securities, said that monthly money transfers sent home have reached a record high. This happened because more workers are moving abroad and more money was sent for the Eid holiday. In fact, only money sent from the US decreased by 3% compared to last year.
Overall, from July to May of the current fiscal year, these transfers totaled $38.11 billion, which is a 9.2% increase from the $34.89 billion sent during the same time last year.
The average monthly money sent home in fiscal year 2026 is about $3.19 billion, which is much higher than in the past. According to the SBP, most money arrived in May from four main places: Saudi Arabia ($1.025 billion), the UAE ($1.006 billion), the UK ($645.5 million), and the US ($349.8 million). These four countries made up most of the total money.
The UAE showed great growth, increasing by 12.7% in May and 45.7% since last July. In the UAE, Dubai was the top performer, sending $828.1 million—a 49.7% increase from last year. Saudi Arabia also grew by 5.1% in May and remains the largest source of these funds.
KTrade Research reported that money sent home (remittances) reached a record high of $4.25 billion in May 2026. This is a 15% increase from last year and a 20% increase from last month, mostly due to Eid celebrations. Most regions saw growth, especially the Gulf. Money from Saudi Arabia grew by over 12% annually, while the UAE saw huge jumps of over 33% annually and 37% monthly.
The UK and US also saw steady growth of over 10%. Australia showed massive growth of 41.5% compared to last year. Several EU countries, including Italy, Spain, Ireland, and the Netherlands, also saw strong increases. Other Gulf nations like Qatar, Kuwait, and Bahrain helped the total rise, though money sent from Malaysia and South Africa dropped slightly.
In May 2026, the Pakistani rupee improved slightly by 0.1%, closing at Rs278.4 per US dollar. Experts say this stability happened because more money was sent home from abroad and the government worked to close the gap between bank exchange rates.
The rupee’s value rose by just Re0.01 against the dollar. The steady arrival of foreign money has also helped strengthen the country’s financial reserves.
Growth has mostly stayed positive each month throughout the 2026 fiscal year, with most months performing better than last year. This steady progress is very important because Pakistan is still facing economic problems like paying off debt and managing imports. Since the early 1970s, money sent home by citizens abroad has saved the Pakistani economy, because the country has struggled to grow its exports and industries.
Economists believe that the steady increase in money sent home by workers helps stabilize the country’s economy. These funds help families spend more and improve the nation’s overall financial balance. Since the fiscal year is almost over, the strong numbers from July to May suggest that total remittances for FY26 might easily break previous records.
The State Bank of Pakistan (SBP) noted that the data includes money sent through Roshan Digital Accounts and is based on where the sender is originally from. To keep the economy stable, Pakistan must keep strong money-transfer links with the GCC, the UK, and other important regions.
Meanwhile, gold prices in Pakistan dropped on Wednesday because of global market trends. The price per tola fell by Rs12,627 to Rs442,436, and the price for 10 grams dropped by Rs11,364 to Rs378,170. Globally, gold prices fell by $126 to $4,200 per ounce. Silver prices also went down by Rs385 to Rs6,929 per tola.
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