Inflow of remittances crosses $2.50b-mark in July

FE Online Report | Monday, 3 August 2020

The inflow of remittances crossed US$ 2.50 billion-mark in July—before the celebration of Eid-ul-Azha -- highest ever the country received in a month, officials said.

Remittances from Bangladeshi nationals working abroad were estimated at $2.60 billion in July, up by 766.87 million a month before. The amount was $1.83 billion in June 2020. It was $1.60 billion in July 2019.

The government’s incentive along with latest policy support, provided by the Bangladesh Bank (BB), has contributed to achieve the new record of inward remittances, they added.

“The July remittance set a new record in the history of Bangladesh,” Kazi Sayedur Rahman, executive director of the BB, told the FE on Monday.

Bangladesh earlier received the highest $1.83 billion as remittance in June 2020, the BB data showed.