November 13, 2024, 5:01 am


Staff Correspondent

Published:
2024-10-15 03:24:13 BdST

Bangladesh receives nearly $1 billion in remittances in 12 days of October


Bangladesh received a substantial $986.63 million (equivalent to Tk 118.40 billion at an exchange rate of Tk 120 per dollar) in remittances through legal channels during the first twelve days of October.

This figure represents a daily average of $82.21 million or Tk 9.87 billion, according to data released by the Bangladesh Bank (BB) on Monday (October 14).

An analysis of the central bank’s data shows that, out of the total remittances received by October 12, $245.6 million came through state-owned banks, $44.85 million through a specialised bank, $693.57 million through private banks, and $2.64 million through foreign banks.

During this period, 11 banks did not receive any remittances. These included state-owned Bangladesh Development Bank (BDBL), specialised Rajshahi Krishi Unnayan Bank (RAKUB), and private banks such as Community Bank, Citizens Bank, ICB Islamic Bank, Padma Bank, and Union Bank. Among foreign banks, no remittances were sent through Habib Bank, National Bank of Pakistan, State Bank of India, and Woori Bank.

Data from the Bangladesh Bank also indicates that the country received a total of $561.91 million in remittances over the six days from October 7 to October 12, following $424.72 million during the previous six days from October 1 to October 6.

In the first month of the 2024-25 fiscal year, July, Bangladesh received $1.91377 billion in remittances. This figure rose to $2.22415 billion in August and further increased to $2.40479 billion in September.

In the recently concluded 2023-24 fiscal year, Bangladesh recorded total remittances of $23.92 billion, equivalent to Tk 2.82 trillion, marking the second-highest inflow in the country's history.

The highest record was set in the 2020-21 fiscal year, with remittances totalling $24.77 billion.

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