Inward remittances fall 50pc in first 17 days of Feb

Staff Reporter :
Bangladeshi migrant workers have sent remittances of US$654 million though official channel in the first 17 days of February this year, depicting a 50 per cent fall over the same period in February 2020.
In the first 18 days of February last year, the expatriates sent remittances worth US$1277.6 million, according to Bangladesh Bank (BB).
Expatriates sent $1.70 billion in remittances in January this year. Which was $1.63 billion in the previous month.
However, compared to January 2021, the remittances fell by about $257 million as expatriates sent $1.96 billion in remittances in the same period last year. Which shows a 13.12 per cent decline.
The remittance inflow dropped more than 20 per cent to $10.24 billion during the July-December period of the current fiscal year (FY), 2021-22, from $ 12.94 billion in the same period of FY’21, the BB data show.
The government had set a remittance target of $26 billion for the current fiscal 2021-22. However, remittances so far did not meet the target in the first seven months of the current financial year
In the first seven months of the current financial year, remittances reached $11.94 billion which is only 45.92% of the government’s projected target.