However, November’s inflow of $2.2 billion was 8.16% lower than the previous month
Repayments will be made from the remittances sent home
Migrant Bangladeshis sent in $2.40 billion in September, 8.12% higher than August
Imports, remittances and forex reserves are likely to increase, the leading chamber says
Reserves stood at $20.48 billion on July 31, down from $21.78 billion a month ago
The move was taken to boost remittance inflow
It hit $2.54 in June this year, up from $2.19 billion in the same month last year
The government should come up with a clear strategy to stop fast depletion of the foreign currency reserves in a bid to save the country from a major crisis, said a noted economist today.
The external factors are not only responsible for Bangladesh’s present economic volatility, rather there are some issues which remained unattended for a long time such as low revenue collection, absence of quality public expenditure and the non-performing loans, said noted economist Debapriya Bhattacharya today.
Banks in Bangladesh today decided to withdraw service charge on remittances sent home by expatriate Bangladeshis with a view to gearing up the inflow.
Do we know which were the top remittance receiving banks in Bangladesh for the month?
Remittance declined further in October, intensifying the pressure on the government to manage its macroeconomy amid plummeting foreign exchange reserves.
The “City Remit” mobile app has been launched to make it easier for expatriate Bangladeshis to send remittances through the legal route in Malaysia.
Despite a surge in the outflow of migrant workers, remittances to Bangladesh declined 11 percent year-on-year to $1.54 billion in September, the lowest in seven months.
The number of Bangladeshi workers who headed to the Middle East countries in search of jobs surged 177 per cent year-on-year in the first eight months of 2022, official figures showed.
Bangladesh’s remittance earnings crossed the $2-billion mark for the second consecutive month in August.
Remittance flow to Bangladesh rose 11.76 per cent year-on-year to $2.09 billion in July, a development that would bring some relief for the country that is struggling to keep its foreign currency reserves in a healthy shape.
