Expats remit $1.73b in 1-25 August

Expatriates have remitted $1.73 billion or approximately Tk 163.40 billion from 1 to 25 of August, according to the latest data of Bangladesh Bank.

Data from central bank shows, $2.07 billion was remitted to the country throughout the month of July.

According to the Bangladesh Bank, many private banks are bringing in more remittance than the state-owned banks all of a sudden, as private banks are purchasing dollars at higher prices.

During 1-25 August period, Islami Bank Bangladesh Limited received $356.3 million in remittance, Agrani Bank $110 million, City Bank $109.4 million, Pubali Bank $95.4 million, Dutch-Bangla Bank $95.3 billion and Rupali Bank received $93.5 million in remittance.

Remittance saw a big fall in 2021-22 fiscal despite stimulus and rise in dollar price, with expatriates sending $21.03 billion through legal channel, which was 15 per cent lower than previous fiscal.