Expatriate Bangladeshis sent $2.06 billion in remittance last month<\/p>\n
Expatriate Bangladeshis sent $684.41 million in remittance in just five days of the ongoing month, owing to the upcoming Eid-ul-Fitr \u2014 the biggest religious festival of Muslims.<\/p>\n
\u201cRemittance inflow is increasing due to the upcoming Eid-ul-Fitr. Every year, Bangladeshi expatriates send huge amounts of foreign currency to the country ahead of Eid,\u201d Bangladesh Bank spokesperson and Executive Director Serajul Islam told.<\/p>\n
From May 2 to May 6, Bangladesh received $684.41 million as remittance, of which $172.15 million came through six state-run banks; $10.93 million through Bangladesh Krishi Bank; $499.12 million through private commercial banks, and $2.21 million through foreign banks, as per the latest data by the central bank.<\/p>\n
Expatriate Bangladeshis sent $2.06 billion in remittance last month \u2014 an 89.17% year-on-year growth.<\/p>\n
Remittance inflow increased 39% to $20 billion in the July-April period of the current fiscal year, compared to the same period of the last fiscal year.<\/p>\n
Bangladesh’s foreign exchange also reserves hit a record amid the Covid-19 pandemic owing to the increasing trend of remittance inflow.<\/p>\n
Forex reserves stood at $45.10 billion on May 3, as per central bank data. With the reserve tally, it would be possible to meet import payments of more than 10 months.<\/p>\n
\u201cThe remittance earnings are increasing day by day amid the Covid-19 pandemic as the government and the central bank took several initiatives to boost it,\u201d said a top central bank official.<\/p>\n
\u201cThe 2% cash incentive on remittance earning has played a vital role behind this,\u201d he added.<\/p>\n
Remittance will maintain a standard flow in the upcoming days as the migrant workers are already used to the legal channels and are enjoying the 2% cash incentive, said Zaid Bakht, research director of the Bangladesh Institute of Development Studies (BIDS).<\/p>\n","protected":false},"excerpt":{"rendered":"
Expatriate Bangladeshis sent $2.06 billion in remittance last month Expatriate Bangladeshis sent $684.41 million in remittance in just five days of the ongoing month, owing to the upcoming Eid-ul-Fitr \u2014 the biggest religious festival of Muslims. \u201cRemittance inflow is increasing due to the upcoming Eid-ul-Fitr. Every year, Bangladeshi expatriates send huge amounts of foreign currency […]<\/p>\n","protected":false},"author":1,"featured_media":1556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[],"class_list":["post-1555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-national"],"_links":{"self":[{"href":"https:\/\/financialherald.net\/index.php?rest_route=\/wp\/v2\/posts\/1555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialherald.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/financialherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1555"}],"version-history":[{"count":1,"href":"https:\/\/financialherald.net\/index.php?rest_route=\/wp\/v2\/posts\/1555\/revisions"}],"predecessor-version":[{"id":1557,"href":"https:\/\/financialherald.net\/index.php?rest_route=\/wp\/v2\/posts\/1555\/revisions\/1557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialherald.net\/index.php?rest_route=\/wp\/v2\/media\/1556"}],"wp:attachment":[{"href":"https:\/\/financialherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}