Finance
Remittance Tk 24,000 cr came in remittance in one month
Dhaka, March 4: In the first two months of this year, remittances, one of the sectors of the economy, have reached two billion dollars. Expatriates working in different countries sent a total of 216 crore 60 lakh dollars in the month of February that just ended. The amount is Tk 23,826 crore in Bangladeshi currency (1 USD=Tk 110).
The increase in remittances is seen as positive by those concerned in the sector. They said, Bangladesh Foreign Exchange Dealers Association (BAFEDA) and Association of Bankers Bangladesh (ABB) have been determining the dollar exchange rate depending on the supply and demand of dollars. These two organizations are mainly related to commercial banks. Banks, however, are now giving themselves incentives in addition to the government's two and a half percent incentive to bring remittances through legal channels. On the other hand, banks are increasing the awareness of expatriates to send remittances legally. Due to these reasons, they said that remittances are increasing through legal channels.
According to the information of the relevant department of the central bank, in February, the second month of this year, a total of 216 crore 60 lakh dollars of expatriate income came. This was USD 60 million more than the previous month in January. In January, the first month of the year, remittances of 210 crore dollars came which is 44 crore dollars more than the same month last year. In February last year, remittances came in at USD 156 crore. According to that, about 38.77 percent more than the same month last year.
Although remittances did not come in as expected from the start of 2023, they were on the upswing towards the end of the year. In the entire period of 2023, remittances of USD 2,900 crore came into the country, which was USD 2,130 crore in the previous year in 2022. Accordingly, in 2023, the growth of expatriate income was about 3 percent.
