Remittance inflow increases by 21pc in November

In November of last year, remittances from Bangladeshis residing outside totalled US$1,930.04 million, a 21% rise over the same month the previous year.

The wage earners sent $1,595.17 million home in November 2022.

With the most recent addition, the government's total receipts for the first five months of the current fiscal year (FY24) came to $8,814.55 million, or 0.24 percent of its total yearly rise in remittances. Last year, it was $8,793.56 million.

Remittances into the country have increased as a result of the government's actions to accelerate the legal channel, according to a source at Bangladesh Bank. This has encouraged non-resident Bangladeshis (NRBs) to transfer money to the country.

/MHK/