Remittance hits four-month high

October saw $1.98 billion in inbound remittances to Bangladesh—the highest amount in four months—due to a combination of higher incentives and a stronger dollar.

Remittances from overseas sent increased by $643 million in October compared to September, a 48.20 percent growth rate, according to central bank statistics. 

Remittances in September were $1.33 billion, the lowest in the preceding forty-one months.

Earlier in October 2022, Bangladesh got remittances amounting to $1.59 billion.

Remittances increased this month because the remittance incentive was increased from 2.5 percent to 5 percent at the end of the month.

/MHK/