Remittance clocks $ 2.2 b in Aug, 39 pc year- on-year
Staff Correspondent
Bangladesh received over US $2.2 billion as remittance in August 2024, showing a 39 percent increase year-on-year.
According to Bangladesh Bank data, expatriates sent $1.6 billion as remittance in August 2023.
Compared to July 2024, remittance inflow in August surged 16 percent. In July, Bangladesh received $1.91 billion as remittances.
Bangladesh witnessed the lowest expatriate income in the last 10 months in July 2024 amid the student movement. In July, the country's expatriate income was about $1.91 billion. Before this, the previous expatriate income came in September last year at a minimum of $1.33 billion.
However, the bank was closed from July 19 to July 23 due to the situation caused by the students’ movement against discrimination, including public and general holidays. Apart from this, broadband internet was off for 5 consecutive days and mobile internet was off for 10 days. Because of this, foreign transactions with the country's banks are almost stopped.
The BB has taken different steps to increase expatriate income including expatriate income to overcome the foreign exchange crisis and increase reserves. In the last few months, these measures have had a positive impact on expatriate income or remittance coming into the country. But in July, there is a slight decline in that trend.
