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The inflow of remittances increased to $2.043 billion in the just-passed April, which gives some sort of respite to the economy amid the persisting forex dearth, officials data showed.
According to the latest data from Bangladesh Bank (BB), Bangladeshi expatriates working abroad sent $2.043 billion in April, when the Muslim-majority country observed its largest religious festival Eid-ul-Fitr, and the monthly count is over 21 per cent higher year-on-year basis, as the flow of inner remittance was registered at $1.68 billion in April 2023.
In comparison with the previous month of March 2024, the country saw a slight increase in receiving inbound remittances, as $1.99 billion worth of remittances was recorded in March 2024.
Seeking anonymity, a BB official said remitters normally send a higher volume of foreign currencies back home to their family members to meet their rising financing needs to celebrate festivals like Eid.
“As the Eid-ul-Fitr was observed in April, we see an increased inflow of remittances, which is a good sign for the economy that passes through stress time because of the forex dearth,” the central banker said.