Photo : Collected
A record $2.54 billion remittances came into the country in the month of June, the highest in 4 years. In Bangladeshi currency (at Tk 118 per dollar) which amounts to about Tk 29 thousand 995 crore. In addition, about $24 billion (23.91 billion) have come in the entire period of the fiscal year 2023-24.
The Central Bank said that remittances are increasing due to various initiatives. This trend will continue in the future. Officials of the relevant department of the central bank said that the difference in the rate of the bank with the informal channel has decreased in terms of dollar rate in remittances. Again, Bangladesh Bank is trying hard to increase remittance in the current situation. Banks are encouraging expatriates, increasing remittances.
According to the data of Bangladesh Bank, Bangladeshis living in different countries sent remittances worth 254 crore 20 thousand dollars in June, the last month of the recent outgoing financial year. This is the highest amount of remittance in four years. Earlier it had crossed two and a half billion dollars in July of the last fiscal year 2020-21. Remittances of 259 crore 82 lakh dollars came in that month.
Remittances of 225 crore 38 lakh dollars came in May of the last financial year. According to that, 28 crore 82 lakh dollars more came in June than in May. And compared to the same month of last year, more than 34 crore 30 lakh dollars came. Remittances of 219 crore 90 lakh dollars came in June last year.
Those concerned said that every year before Eid, remittance or expatriate income increases compared to normal time. This time was no exception. Expatriate Bangladeshis sent foreign currency equivalent to Tk 19,432 crore in 14 days during Eid. In addition, after Bangladesh Bank increased the price of the dollar by Tk 7 to Tk 117, the income of expatriates through legal channels increased.
According to the data of the Central Bank, in the first 14 days of June, expatriates sent 164 crore 67 lakh dollars to the country through legal or banking channels. In local currency (Tk 118 per dollar) which amounts to Tk 19 thousand 432 crores. As such, the daily remittance received during Eid is more than Tk 991 crore.
During the discussed period, 39 crore 40 lakh dollars were remitted through state-owned banks, 4 crore dollars through a specialized bank, 120 crore 81 lakh dollars through private banks and 42 lakh dollars through foreign banks.
On the other hand, 23.92 billion dollars or 2 thousand 391 crore 50 lakh dollars have come in the entire period of 2023-24 fiscal year. 2 thousand 161 crore dollars came in the previous financial year. Accordingly, remittances have increased by 231 crore dollars in one year. According to the financial year, the highest remittance came in the financial year 2020-21 worth 2 thousand 477 crore dollars.
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