Inflow of remittance fell by 22% to $1.1bn in August from $1.48bn in the previous month.
In July, the remittance was the highest so far this year due to celebration of Eid-ul-Fitr in the month.
The amount was 19.69% higher than that in July last year. During the month, the remittance inflow was $1.2bn.
The total remittance of first eight months of the current year increased by 7.6% to $10bn compared to $9.29bn in the same period last year.
A fall in dollar rate discouraged the expatriates to send remittance home, said a senior executive of Bangladesh Bank.
The increasing inflow of foreign loans and lack of investment opportunity causing depreciation of exchange rate, though the central bank is buying dollar to keep the rate stable, he said.
Exchange rate came down as dollar is now available in the market, said Executive Director Mahfuzur Rahman.
The central bank, however, is buying dollar to support exporter temporally but ultimately the rate will come down soon due to increasing inflow of foreign fund, he said.
“We will not support the exporters for long time. They have to prepare themselves to accept the change in dollar rate,” he said.
In the foreign exchange market, Taka was appreciated to Tk77.4 against dollar in August from Tk77.6 in the previous month, according to Bangladesh Bank data.
In August, the country received remittance $379.62m through the state-owned banks, $15.88m through specialised banks, $750.73m through private commercial banks and $1383m through foreign banks.
As the manpower export to Middle Eastern countries dropped, it adversely affected the remittance inflow, said a senior executive of Bangladesh Bank.