Inward remittance falls 5.86pc in July

Bangladesh has registered a slight 5.86 per cent decline in inward remittances during the first month of fiscal year 2023-24, with expatriates sending a total of USD 1.97 billion, reports UNB.  

According to Bangladesh Bank (BB) data, the remittances stood at USD 2.19 billion in June 2023. The latest figure dropped by 10.27 per cent in comparison to the previous month. 

Despite the decline in remittance inflow, central bank officials described it as better than other months.

The central bank spokesperson, Sarwar Hossain, attributed the higher volume of remittances in June to the occasion of Eid-ul-Azha. 

In FY23, Bangladeshi expatriates sent a total of USD 21.61 billion in remittances, marking a rise from USD 21.03 billion in the preceding fiscal year.