FT ONLINE

Remittance inflow to Bangladesh increased about 32 per cent in September compared to the same period of previous year.

According to latest Bangladesh Bank statistics, the expatriate Bangladeshis sent home over $1.13 billion in September.

Meanwhile, the country received remittances worth  over $3.86 billion in the first three months (July-September) of current fiscal year, an increase of 13.73 per cent from the corresponding period a year earlier.

A rise in global oil prices, the stronger dollar against the taka and the central bank’s steps to encourage expatriates to remit funds through legal channels are the reasons for the higher remittance inflow, analysts say.

The remittance growth has also boosted foreign currency reserves that were $32.12 billion on Tuesday, the central bank said.