B'desh receives record $2.6bn remittances in July
Published : Monday, 3 August, 2020 at 7:38 PM Count : 340
Bangladeshi migrant workers have sent home a record amount of remittance in July in a remarkable feat amid the coronavirus pandemic.
They sent back $2.6 billion in inward remittances in the first month of the new fiscal year, a new monthly record.
The amount is about 63 percent higher than in July 2019 and is more than remittance inflow over the entirety of the fiscal year 2001-02, reports bdnews24.com.
It marks a 42 percent increase from the previous monthly record of $1.83 billion set in June.
While a surge in remittances was expected during the period of Eid-ul-Azha, no-one expected the amount to be this high, according to Bangladesh Bank's Executive Director Sayedur Rahman.
"This is truly incredible. The pandemic has once again proved that expatriates are the driving force of our economy."