Economy
2 months ago

$2.19 billion in remittances received in November

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Bangladeshi expatriates sent $2.19 billion in remittances in November 2024, marking a 13.47 per cent year-on-year growth, according to Bangladesh Bank (BB) data released on Sunday.

This, however, is slightly lower than that of October's $2.39 billion inflows.

Remittance inflows have shown fluctuations in recent months, with the country receiving $1.91 billion in July, $2.22 billion in August, and $2.40 billion in September of the current fiscal year.

In November, out of the total remittances, more than $824.21 million of the remittances came through state-owned banks, $145.86 million through a specialized bank, $1.22 billion through private commercial banks, and $6.28 million through foreign banks. During this period, overseas workers did not send any remittances through seven banks. These banks include state-owned Bangladesh Development Bank, specialized Rajshahi Krishi Unnayan Bank, and private banks such as Community Bank, Citizens Bank, ICB Islamic Bank and Padma Bank. Among foreign banks, neither Habib Bank nor State Bank of India received any remittances.

In the recently concluded 2023-24 fiscal year, remittances totaled $23.92 billion (Tk 2.82 trillion), marking the second-highest annual inflow in the nation's history.

The highest record of $24.77 billion was achieved in the 2020-21 fiscal year.

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