Finance
Remittance Bangladesh recording daily remittances in excess of Tk 688 crore
Dhaka, February 14: Remittance flows have started to turn positive. In the first month of this year, Bangladeshi expatriates in different countries of the world sent remittances of 195.88 crore US dollars to the country. Which is more than 20 thousand 959 crores in Bangladeshi currency (as 107 taka per dollar). According to that, the average daily remittances are more than 6.31 crore dollars. In the previous month of December, remittances came in at 169 crore dollars.
The same trend of remittance flow is flowing in this month of February as well. In the first 10 days of this month, remittances of 64.30 crore dollars have arrived. Which is a daily average of 6.43 crore dollars or more than Tk 688 crore. If this trend continues, remittances will exceed 180 crore USD in 28 days in February. This information is known from the latest report of Bangladesh Bank.
On the other hand, the central bank has sold more than 850 crore dollars from reserves in the seven months (July-January) of 2022-23 financial year to reduce the dollar crisis. In the history of the country, such amount of dollars has not been sold from the reserve even in the entire financial year in the past.
According to Bangladesh Bank sources, expatriates are being encouraged to send remittances through legitimate channels. Incentives on remittances have also been increased. It has now started to increase remittances through legal channels. Two religious festivals are ahead (Eidul Fitr and Eidul Adha). Remittance flow will increase around these two festivals.
Prior to this, remittance flow stopped at one and a half billion dollars for five consecutive months from September. In the first month of the current financial year, remittances came in at 209.63 crore USD, in August it was 203.69 crore USD. In the first two months of the financial year, remittances came in at two billion dollars. After that, the remittance flow began to decrease from September. Which comes to around one and a half billion monthly. Last September came 153.96 crore US dollars, in October 152.55 crore dollars, in November 159.47 crore dollars, in December about 170 crore dollars or 169.96 crore US dollars. And in the month of January, the remittance came to 195.88 crore US dollars.
