Bangladesh receives $1.9b remittance in July

Bangladesh received US $1.9 billion as a remittance in July, which shows a decrease of 24.87 per cent compared to the previous month June.

The expatriates sent a record remittance of $2.51 billion in June ahead of Eid-ul-Azha. Compared to June the remittance inflow decreased by 24.87 per cent in July this year, reports UNB.

In July last year (2023) expatriates sent $1.97 billion remittance in the country. This information was revealed in the updated report of the Bangladesh Bank (BB).

In the first 18 days of July, an average of $79 million in remittances came daily, but from 19 to 24 July, a total of $78 million came in six days. On July 31, the expatriates sent $120 million in remittance, which is the highest in a single-day remittance flow, according to the central bank.

Md. Mezbaul Haque, Executive Director and Spokesperson of BB, said that expatriates sent $1.9 billion to the country in July.

Reviewing the data of the central bank found that the lowest remittance in the first 7 months of this year (2024) came in July. In this month, Bangladesh received remittances of $1.9 billion. Before this, remittances received $2.11 billion in January and $2.16 billion in February.

In March expatriates sent $1.99 billion in remittance, in April $2.04 billion, in May $2.25 billion.