Bangladesh's remittance inflow rises 15%
Remittance inflow of Bangladesh increased by 15.24 per cent to $1.96 billion in the first month of 2023 compared to that of December last year, latest data of the Bangladesh Bank shows.
With the latest addition, the year-on-year (y-o-y) growth in receiving remittances stood at 4.3 per cent for the first seven months, July to January, of the ongoing fiscal year (FY23) as the country received $12.45 billion in total during the period. Last year, it was $11.94 billion.
In July and August, remittance inflow was $2 billion on average. It, however, fell to $1.5 billion in the next three months after the central bank authorised the Association of Bankers, Bangladesh and the Bangladesh Foreign Exchange Dealers' Association to set dollar prices for export-import of the private sector, and remittance earnings.
In December, the inflow increased to $1.7 billion.
Currently, the Bangladesh Bank prescribed rate is Tk107 for collecting remittance dollars. The rate for export proceedings increased to Tk104 and that for import payment to Tk105 per dollar.
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