Bangladesh has bought $1.63 billion in remittances in 21 days of September.
Of this, remittances thru insist-owned and specialised banks accounted for $550 million, whereas private banks bought $1.08 billion, based completely on a file released by the Bangladesh Monetary institution this day (22 September).
Remittance inflows fell to $1.33 billion in September ideal year after the central monetary institution took punitive measures against banks for offering extra buck prices.
The central monetary institution’s knowledge reveals that the frequent day-to-day remittance inflow for September is $77.8 million. If this lope continues, the total remittance for the month is anticipated to surpass $2.33 billion.
By 21 September this year, remittance inflows had already exceeded this figure. Bankers request the remittance total to exceed $2.2 billion by the tip of September.
Bangladesh Monetary institution Spokesperson and Govt Director Husneara Shikha highlighted the novel lengthen in remittance inflows since July. Expatriates are sending gargantuan amounts of remittances, which has tremendously boosted Bangladesh’s foreign commerce reserves and halted the depletion of reserves, experiences UNB.
In the fiscal year 2023-24, Bangladeshi expatriates despatched a total of $23.92 billion in remittances, marking the 2nd-highest annual figure ever.
The highest remittance inflow used to be recorded in the fiscal year 2020-21, with $24.77 billion despatched by expatriates.
