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BD receives $716m remittance in nine days before Eid

Published : Friday, 16 August, 2019 at 12:00 AM  Count : 124

Expatriate Bangladeshis have sent home an increased amount of money home before the Eid-ul-Azha, taking the figure in the first nine days of August to $716.2 million.
Bankers also believe the government announcement on 2 percent incentives for remittance inflow has encouraged the Bangladeshis living abroad.
The 2019-20 financial year started with the remittance inflow in an upbeat mood as the country received $1.6 billion in July, the second highest for a month and 21.2 percent more than the same month last year.
The expatriates set the highest monthly record of remittance in May by sending over $1.75 billion ahead of the Eid-ul-Fitr. In 2018-19, Bangladesh received record $16.42 billion in remittance with a 9.6 percent growth.
With the newly received remittance, the foreign currency reserves of Bangladesh reached $32.4 billion on Wednesday. The reserves dropped below $32 billion recently after payments for import to the Asian Clearing Union.

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