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Remittance inflow rises ahead of Eid, expected to exceed $2,0b

| Updated: May 01, 2022 08:57:23


Remittance inflow rises ahead of Eid, expected to exceed $2,0b

Remittance inflow has increased ahead of Eid-ul-Fitr as Bangladesh received $1.82 billion as remittance on April 01- 27.

Bangladesh Bank (BB) is expecting that the figure will exceed $2.0 billion as expatriates are sending additional money to their relatives ahead of Eid-ul Fitr, reports UNB.

Md. Serajul Islam, executive director and also spokesperson of BB told UNB on Saturday that a total of $ 1.82 billion remittances were received by different banks from April 01- 27.

He hoped that more than $30 billion in remittances will be received in the remaining days of the month of April.

Bangladesh received $1.87 billion in July, $1.81 billion in August, $1.72 billion in September, $1.64 billion in October and $1.55 billion in November, $1.63 billion in December, $1.70 billion in January, $1.14 billion in February of FY 22.

The expatriates sent $2.17 billion remittances in the month of May last year, ahead of Eid-ul Fitr.

In March 2022, the expatriates sent $1.86 billion as remittance. The inward remittance inflow of the last nine months of FY22 saw a decreasing trend compared to the corresponding months in FY21.

In the same period of FY21, the remittance inflow was $2.59 billion in July, $ 1.96 billion in August, $ 2.15 billion in September, $ 2.10 billion in October, $2.07 billion in November, $2.05 billion in December, $ 1.96 billion in January, $1.78 billion in February and $1.91 billion in March.

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