KARACHI: Remittances are expected to cross a record high of $3.5 billion in March, rising 15 per cent month-on-month, driven largely by inflows during Ramazan, according to financial experts and currency dealers.

The spike in remittances has provided the government with much-needed breathing space, easing the burden of external debt repayments and providing strong support to the exchange rate.

“We have sold about $450 million to banks in March — significantly higher than in February and much higher than March 2024,” said Zafar Paracha, general secretary of the Exchange Companies Association of Pakistan (ECAP). He said the additional inflows in March were due to Ramazan.

The remittances for March are........

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