The Financial Express
Swasti Lankabangla Swasti Lankabangla

Inward remittance grows by over 48pc in Q1 of FY21

| Updated: October 06, 2020 10:12:08

Inward remittance grows by over 48pc in Q1 of FY21

The inflow of remittances grew by more than 48 per cent in the first quarter (Q1) of the current fiscal year (FY21) despite the ongoing Covid-19 pandemic, officials said.

The flow of inward remittances rose to US$6.71 billion during the July-September period of FY21, from $4.52 billion in the same period of the previous fiscal, according to the central bank’s latest statistics.

The money sent home by Bangladeshis working abroad amounted to $2.15 billion in September 2020, up by $187 million from the previous month’s value.

In August last, the remittances stood at $1.96 billion.  It was $1.48 billion in September 2019.

“We expect that the upward trend of inward remittance will continue in the coming months as the government has continuously provided 2.0 per cent incentive on remittance receipts,” Kazi Sayedur Rahman, executive director of the Bangladesh Bank (BB), told the FE.



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