Home Business Remittance drops by a quarter in a month

Remittance drops by a quarter in a month

Remittance sent by the expatriates through legal channels dropped 24.42% in September compared to August.

The remittance inflow was recorded at $1.54 billion in September. In August, it was $2.03 billion.

The September figure is the lowest in the last seven months, according to a report published by Bangladesh Bank on Sunday.

In September last year, remittance inflow was $1.72 billion.

The last time Bangladesh witnessed a lower remittance inflow was in February this year. A remittance of $1.49 billion came to the country in February.

With September’s remittance inflow, the total remittance in the first three months of the 2022-23 fiscal year stood at $5.67 billion, which was $5.41 billion during the same period last year.

Data analysis shows that expatriates have sent remittances of more than 2 billion dollars through legal channels for two consecutive months of the current fiscal year.

In August, $2.03 billion in remittances came through the banking channel and in July, it was $2.09 billion.


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