Bangladeshi expatriates sent out $813 million in the first 10 days of August, Bangladesh Bank said on Thursday.
Converted to taka, the remittances add up to around Tk7,804 crore (Tk96 per dollar).
The central bank is providing around Tk96-98 against each dollar, along with 2.5% government incentives. In total, the amount stands at Tk100. However, the dollar sells in the open market at Tk118-Tk120.
In July–the first month of FY23, $2.09 billion in remittances came through the banking channel, the highest in the last 14 months. According to the current exchange rate in the local currency, the amount of money is about Tk20,000 crores.
The month’s remittance inflow registered a 17.56% growth compared to the corresponding month of the last fiscal year, according to the central bank.
Besides, the amount is 19.75% higher than June's $1.83 billion.
In July last year, the country received $1.87 billion from Bangladeshi nationals abroad.
Data showed that Bangladeshi expats sent $2.59 billion back home in July 2020.
Bangladesh Bank spokesperson Md Serajul Islam said: “Along with expanding incentives, the government is providing policy support to encourage expatriates to send remittances (through banking channels).”
According to him, the bank is also encouraging non-resident Bangladeshis to send remittances and the higher price of dollars in the country is bolstering the efforts.
Bangladesh saw an inward remittance slump of 15.12% to $21.03 billion year-on-year in 2021-22 after growing by more than 36% to $24.78 in 2020-21.
