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Bangladesh receives $958.69mn remittance before Eid

Bankers say Bangladeshis working abroad sent more money to families ahead of Eid-ul-Fitr

Update : 17 Apr 2023, 07:28 PM

As always, the flow of remittances before Eid has seen a high influx as expats send home more money. 

Bangladesh received $958.69 million in wage earners' remittances through different banks in the first two weeks of April.

Bankers say Bangladeshis working abroad sent more money to families ahead of Eid-ul-Fitr.

According to the Bangladesh Bank data, $794.32 million came through 51 private commercial banks and $3.32 million came through foreign commercial banks.

Apart from this, $134.23 million came through six state-owned commercial banks in the first 14 days of April. 

Also $26.82 million came through the specialized Bangladesh Agricultural Bank. 

However, in March, expatriates sent home $2 billion in remittances through the banking channel.

The remittance inflow increased in March after six months as bankers offered a maximum of Tk117 per dollar when Bangladesh Foreign Exchange Dealers Association (Bafeda) set the rate at Tk107.

Remittance inflow has been recorded below $2 billion since September last year after the Bangladesh Bank reduced the remittance rate to Tk107 from Tk108.


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