Remittance inflow to the country has reached staggering $2.299 billion in first 25 days of July. In Bangladeshi currency, this amount nears to Tk 28,047.80 crore at the rate of Tk 122 per dollar.
According to an updated report from Bangladesh Bank, expatriates sent 2,299 million dollars to the country from July 1 to July 25. During the same period in the previous fiscal year, the remittance inflow stood at 1,907 million dollars.
Central bank data shows that remittance inflow grew by 392 million dollars in the first 25 days of the current fiscal year compared to the same period last year. This marks a growth rate of 20.6 per cent.
Remittance inflow maintained a strong momentum from the beginning of the month. In the first five days of July, $567 million arrived in the country. Within 21 days, remittance crossed the $2 billion milestone. By the end of 25 days, the total reached $2,299 million.
Relevant officials said the positive trend in remittance inflow continues due to an increasing tendency to send money through legal channels, various government incentives, and improved banking services.
They expect that if the current trend continues, total remittance for the month may cross 3 billion dollars. This will play a positive role in strengthening foreign exchange reserves, meeting import liabilities, and maintaining balance in foreign transactions.
-SA