Bangladesh's remittance inflow declined by 3.2 percent year-on-year to $1.90 billion in July this year as banks could not collect money sent home by the migrant workers because of a five-day internet blackout across the country following quota movement violence.
Remittance receipts were $1.97 billion in July last year, according to Bangladesh Bank (BB) Spokesperson Md Mezbaul Haque.
The central bank data shows the inflow of remittances, a key source of foreign currencies, stood at $138 million from July 21 to 27, the lowest among the four weeks of the month, following the internet outage, hindering banks from collecting much-needed foreign currencies to boost country's falling forex reserves.
On the last day of July, remitters sent $120 million, Haque said.
However, remittances grew 10 percent year-on-year to $23.9 billion in 2023-24 fiscal year with receipt in the last June standing at $2.54 billion, according to the BB data.
