Remittance inflow dips to 1.5 billion dollars in February Remittance Inflow
File photo Remittance inflow is declining

Remittance inflow dips to 1.5 billion dollars in February

Bangladesh Live News | @banglalivenews | 02 Mar 2022, 01:36 pm

Own Correspondent, Dhaka, March 2: In February, the second month of the year, expatriate Bangladeshis sent 149 crore 60 lakh US dollars in foreign exchange or remittances to the country. In Bangladeshi currency, the amount is Rs 12,865 crore (calculating 1 USD= Rs 86).

In January, expatriate Bangladeshis had sent 170 crore 43 lakh USD or Rs 14,600 crore, but in February, the country received 149 crore 60 lakh USD or Rs 12,865 in remittances, which has decreased by 21 crore USD or Rs 1,734 crore compared to the previous month (January). This information has been known from Bangladesh Bank sources.

According to the data of the central Bank, in February, 2022, the expatriate Bangladeshis sent foreign currency or remittances of 149 crore 60 lakh USD or Rs 12,865 crore to the country. In February, 2021, remittance inflow to the country was 178 crore 59 lakh dollars or Rs 15,172 crore in Bangladeshi currency (calculating 1 USD=Rs 85).

In January, the first month of 2022, the expatriate Bangladeshis sent remittances of USD 170 crore to the country, which was lower than the remittance inflow recorded in the same month (January) last year. In January, 2021, remittance inflow to the country was 196 crore USD or Rs 16,856 in Bangladeshi currency, which had decreased by Rs 2,236 crore as compared to the remittance inflow of the same month last year.

Experts said there are few reasons behind the decrease in remittance inflows in the country. Expatriates who were stranded in the country are now returning to work in those countries. Remittance inflows will increase if they return to work in full force. Moreover, many new countries have started recruiting workers. Again, from the first day of the new year, the government has increased the cash incentive in remittance inflow from 2 percent to 2.5 percent. Due to these reasons, remittance inflows will increase in the coming days.