Expatriates remit $1.79b in first 23 days of June

RemittanceProthom Alo illustration

Bangladeshis abroad sent back $1.79 billion ahead of Eid ul Azha as inward remittances in the first 23 days of the current month (June) through official channels, finally gaining some pace after a lackluster few months.

This number has already surpassed the figure of entire May, which was just $1.69 billion. If the trend continues, remittances inflow in June would exceed the $2bn mark by the end of the month, reports UNB.

While this mark was crossed in March ($2.02 billion), the flow of remittances in April ($1.68bn) and May ($1.69bn) was disappointing again.

Bangladesh Bank officials noted that people tend to spend more during Eid. On occasion of Eid ul Azha, many expatriates would perform the rite of qurbani (sacrifice, usually of cattle) in Bangladesh. So a hike was indeed expected in the last month of the 2022-23 fiscal.