Bangladesh receives $1.9b in remittance in 29 days

Bangladesh has received a total of $1.9 billion in remittance in the first 29 days of April, according to Bangladesh Bank sources. 

A lion’s share – $1.281 billion – flowed into the country during the initial 19 days of the month, while the remaining $626 million came in the following 10 days. On average, around $60 million entered the country in remittance on a daily basis. 

A hike was expected in expatriate income in April, due to the festival of Eid-ul-Fitr. But the reality was different as the amount received was similar to those of other months.  

The preceding month, March, registered a total expatriate income of $1.99 billion, while January and February recorded $2.1 billion and $2.16 billion, respectively.

The official exchange rate is Tk 110, but most banks are purchasing expatriate earnings at slightly higher rates, ranging from Tk 115 to Tk 116, while some who are grappling with financial strains are paying even higher prices.