The country experienced a sharp fall in remittance inflow in October compared to the previous month due to loss of job opportunities abroad amid growing global recession.
Remittance dropped 19.42% in October compared to September, according to the Bangladesh Bank data released yesterday.
Expatriates sent a total of $1.08bn remittance in last month which was lower than $1.34bn in the previous month.
The amount, however, rose slightly higher from $1.01bn in the same month of the last year.
The country received $3.93bn remittance in July-September quarter of the fiscal year 2015-16 which was down from $4bn in the same period of the last fiscal year, according to the Bangladesh Bank data.
The amount of remittance received in the first quarter was also down slightly from $4.05bn in the last quarter of FY2014-15.
Fall in migration abroad is mainly accounted for slower growth of remittance, said a senior executive of Bangladesh Bank.
He said the price of foreign currency did not increase so much at the same time while the demand for taka was poor in the market which was also the factor of lower remittance.
In October, the country received $331m remittance through the state-owned banks, $13.31m through specialised banks, $729m through private commercial banks and $13.77m through foreign banks.
