Eid brings in record Tk 130.5 b remittance

Staff Correspondent: Expatriate Bangladeshis remitted 958.7 million US dollars through legal or banking channels on the occasion of Eid-ul-Fitr. In the local currency, which has an exchange rate of 107 taka per dollar, this equates to a sum of Tk 13,600 crores.
In the first 21 days of April, remittances received amounted to 1271.71 million US dollars, with state-owned banks receiving 173.37 million dollars, specialized banks receiving 3.63 million 40 thousand US dollars, private banks receiving 105.73 million dollars, foreign banks receiving 4.290 thousand US dollars.
Legal remittances received in March were worth 201 million 77 million dollars, equivalent to 21 thousand 589 crores in local currency, which is 457.2 million dollars more than the previous month’s remittances of 156 million 12 million dollars in February.
To increase remittances, the central bank has taken various initiatives, including encouraging legal channels for remittance transfers and relaxing the conditions for filling Form C to bring remittance income to the country in exchange for services. Additionally, service sector entrepreneurs and exporters are allowed to bring in 20 thousand US dollars or equivalent foreign currency into the country without declaration.