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The Financial Express

Remittances surge to $16.69b in July-February period

| Updated: March 12, 2021 20:28:47


Remittances surge to $16.69b in July-February period

The country's inward remittance stood at an estimated 16.69-billion dollars in the first eight months of the current fiscal year (FY), 2020-2021.

The amount was 33.51 per cent higher than that of the corresponding period in FY 2019-2020, disclosed the Bangladesh Bank (BB).

Bangladeshis staying abroad sent nearly $12.50 billion back home during the July-February period of FY 2019-20, according to the BB data.

However, the volume of inward remittance was recorded at $1.78 billion in February 2021 compared to more than $1.45 billion in February 2020.

The inflow in February 2021 was $181.32 million lower than that of $19.62 billion in the previous month of January mainly due to fewer working days.

On the other hand, the country's foreign exchange reserve exceeded $44.12 billion mark as of March 01, according to the central bank.

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