Bangladesh recorded a sharp rise in remittance inflows in May, as migrant workers sent more money home in the run-up to Eid-ul-Azha, which falls in early June.
The US House Budget Committee voted late on Sunday to move forward with President Donald Trump's "One Big Beautiful Bill Act", a proposal that could make sending money back home more expensive for three lakh Bangladeshis currently living in the United States.
Remittance inflow in the first ten months and eleven days of this fiscal year surpassed $25 billion, breaking all previous records.
Remittance inflow posted a 65% year-on-year jump
The inflow was 82.46 percent higher than the same period last year, according to industry insiders.
Remittance inflows surged by around 78 percent year-on-year in the first 19 days of March as migrant workers sent more money home to relatives ahead of Eid-ul-Fitr, the largest religious occasion in the country.
$2.25 billion remittance came in May this year, up from last year same month's $1.7 billion
He spoke at the third AKN Ahmed Memorial Lecture on Central Banking
In February, migrants sent home $2.16 billion, up 39% year-on-year
Finance Minister Abul Hasan Mahmud Ali today told the parliament from July to July to January of the current financial year (2023-24), the country received some $12.9 billion ($12, 900.63 million) in remittances
People made Tk 4,100 crore MFS transactions in 2023's December
Migrant workers sent home $2.1 billion in January
Immediate past state minister for planning Shamsul Alam says
Bangladesh’s foreign exchange reserves fell to $20.38 billion yesterday after the central bank settled import bills of two months through the Asian Clearing Union (ACU), a top official said today.
To honour the contributions of migrant workers to the country’s GDP growth and their role in enriching foreign currency reserves, The Daily Star and BRAC have jointly initiated the “Remittance Award”.
Banks will buy dollar at Tk 110, sell at Tk 110.5 from Nov 23
