Written by The Banking Post
Remittance inflows rose by 9.9% year-on-year to $2.34 billion in the first 28 days of October, according to the latest data from the Bangladesh Bank.
During the same period last year, remittances stood at $2.13 billion.
From July to October 28 of the current fiscal year, expatriate Bangladeshis sent $9.93 billion, compared to $8.67 billion in the corresponding period a year earlier — a robust increase reflecting stronger inflows from major labour markets abroad.
Economists say the steady rise in remittances is helping strengthen the country’s foreign exchange reserves and support the balance of payments amid continued pressure on the taka.
