Photo : Collected
According to Bangladesh Bank data remittance fell 1.23 percent year-on-year to $1.99 billion in March although inflows usually go up on the occasion of Eid.
Industry insiders attribute the decline to the growing use of the hundi system since remitters get better rates of the US dollars if they transfer the funds through the illegal cross-border system instead of formal channels.
The remittance inflow stood at $2.16 billion in February which is higher than March.
Messenger/Mumu
