• Financial

In the first 12 days of May, expatriate income was 8 thousand 359 crores

  • Financial
  • 15 May, 2023 10:18:31

Photo: Collected

News Desk: A positive trend is being observed in the flow of expatriate income or remittances. In the first 12 days of this May, expatriate Bangladeshis have sent remittances worth 773 million 3970 thousand (773 million) US dollars. Which is 8 thousand 359 crore taka in Bangladeshi currency (108 taka per dollar). This information has emerged in the latest report of Bangladesh Bank. Data analysis showed that remittances came in two billion dollars consecutively in the first month of July and the second month of August of the current fiscal year 2022-2023. After 6 consecutive months passed, the remittance did not reach the milestone of two billion dollars. Finally, in March, the ninth month of the financial year, the expatriate income touched the milestone of two billion dollars. But the next month, April, stumbles again; Remittances of 168 crore 34 lakh 70 thousand dollars came in that month. On the 12th day of this May, remittances of 77 crore 39 lakh 70 thousand dollars came to the country.

108 taka per dollar of Bangladeshi currency which amounts to 8 thousand 359 crore taka. And about 6 crore 45 lakh dollars are coming every day. If the trend of remittance continues like this, the remittance will reach the milestone of two billion by the end of the month. Officials of the concerned department of Bangladesh Bank said that expatriates are encouraged to send remittances through legal channels. Eid of Sacrifice is ahead. In this, expatriates send a lot of money for their families' sacrifices and purchases. It is expected that remittances will maintain a good position in the current month (May) and next month. According to the data of Bangladesh Bank, among the remittances received on the 12th day of this month, 122 million 220 thousand dollars came through the state bank. 2 crore 61 lakh 50 thousand dollars came through a specialized bank.

62 crore 19 lakh 80 thousand dollars came through private banks and 36 lakh 20 thousand dollars came through foreign banks. However, no expatriate income came to the country through 9 banks during the discussed period. These include the state-owned Bangladesh Development Bank or BDBL, the specialized Rajshahi Agricultural Development Bank or RAQAB, the private banks include Bengal Commercial Bank, Community Bank, Citizens Bank, Shimant Bank, Foreign Sector Habib Bank, National Bank of Pakistan and State Bank of India. In the first two months (July and August) of the current fiscal year 2022-2023, two billion dollars of remittances came to the country. But the flow of remittances has stopped at the house of one and a half billion dollars for six consecutive months since September.

In the first month of the current financial year (July), $209.63 million came, in August $203.69 million, in September $153.96 million, in October $152.55 million, in November $159.47 million, and in December about $1.7 billion. or 169 million 96 million US dollars, 195 million 88 million US dollars came in January, remittances of 156 million 12 million dollars came in February. And more than 201 million 76 million dollars remittance came in March, the month of independence. In addition, the recently concluded month of April received 1683.4 million 70 thousand dollars. Before that, in the fiscal year 2021-2022, a total of 2 thousand 103 million 17 million (21.03 billion) US dollars remittances came to the country through banking channels. This is 15.11 percent less than its previous fiscal year. In the fiscal year 2020-2021, remittances of 2,477 crore 77 lakh (24.77 billion) dollars came.

 

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