Remittance hits eight-month high

The inflow of remittances has reached its peak in the last eight months and increased 24 percent to $1.86 billion in March compared to February of the current financial year.

Remittances remained strong until July of the current fiscal year, but continued to decline since August and fell to $1.49 billion in February.

About the latest remittance earnings, Bangladesh Bank former governor Salehuddin Ahmed said that remittance inflow in the country usually increases ahead of festivals.

“Although Ramadan has started from April, the expatriates have sent more remittances in March keeping this in mind. This trend will be continuing till Eid,” he added.

During the July-March period of the current financial year, Bangladeshi expatriates sent $15.3 billion as remittance, which is 17.76 percent lower than the same period of previous financial year, according to the latest data from the central bank.

Workers sent $18.6 billion during the July-March period of FY21.