Remittance

Tk 21,181 cr came in remittance in November

The fluctuation in the dollar market within the country is quite old. This crisis is gradually increasing. Due to lack of foreign exchange, imports have been tightened. The government and the central bank are struggling to solve the crisis of the American currency. Dollars are being provided from reserves to meet the situation. Yet none of the efforts to resolve the crisis are working.

Dollar sales continue from reserves to meet market conditions. Various bill payment reserves including Aku are also decreasing. Selling dollars reduced reserves by over $6 billion in the first five months (July-November) of the current fiscal year 2023-2024. Gross reserves have come down to 25 billion. And according to BPM-6, it has come down to 19 billion. But in the meantime, remittances were raising new hopes. Remittances, one of the sources of currency income in the dollar crisis situation, started to increase from the beginning of November. It was expected to exceed two billion dollars in the month. However, after giving up all hope, it got stuck below two billion dollars. At the end of the recent November month, 193 crore dollars or 1.93 billion dollars came. Which is five million dollars less than the previous month of October. And 33 million dollars more than the same month of last year (November-2022).

The latest report of Bangladesh Bank says that total remittances of 193 crore dollars have come in November, which is Tk 21,181 crore 75 lakh in Bangladesh currency (USD 1=Tk 109.75). This is nearly USD 5 crore less than the previous month (October). About 160 crore dollars came in October. However, 33 crore dollars more came than last year's November month. About 160 crore dollars came in November last year.