Expats remit $1.45b home in first 12 days of June

According to the most recent data from Bangladesh Bank, expats sent $1.45 billion home through banking channels in the first 12 days of June as Eid-ul-Azha drew near. This represents a $620 million or 75% increase from the same period last year.

In the comparable month of June of the previous year, the nation got $840 million in remittances.

In May of this year, remittances hit a 46-month high of $2.25 billion, with the nation receiving $72.5 million on average every day.

But June witnessed an average of $121.7 million every day, which was more than $50 million per day more than the previous month.

According to some in the baking industry, remittance inflows will surpass $2.50 billion this month if the current trend continues.

After Bangladesh Bank increased the value of the dollar by Tk 7 to Tk 117 per dollar in May, expatriates are sending money home through legal routes more frequently.

Remittances to Bangladesh totaled $21.61 billion in the fiscal year 2022–2023 and $21.37 billion in the first eleven months of the fiscal year 2023–2024.

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
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