Staff Reporter ঃ
Remittances sent by Bangladeshis living abroad increased by 14 percent year-on-year to $2.2 billion in November, according to the latest data from Bangladesh Bank published on Sunday.
Remittance inflows have been on an upward trend since August, helping to ease pressure on the country’s foreign exchange reserves, according to industry insiders. However, the November inflow was 8.16 percent
lower than the previous month.
Year-on-year, remittance inflows fell by 3.2 percent in July, but increased by 39 percent in August, 80 percent in September, and 21 percent in October, as per the central bank’s data.
During the July-November period of this fiscal year, remittance earnings stood at $11.13 billion, up from $8.80 billion in the same period last fiscal year.
Migrant Bangladeshis sent home 26.4 percent more money in the first five months of this fiscal year compared to the same period of the previous year.
A senior official at the central bank attributed the increase to greater confidence among expatriates in using legal channels, bolstered by awareness campaigns and the political transition.
