Home Bangladesh November remittance stood at Tk21,181cr
Bangladesh - December 4, 2023

November remittance stood at Tk21,181cr

Staff Correspondent: At the end of the recent month of November, $1.93 billion of remittances came to the country. In Bangladesh currency (one dollar is equal to Tk 109.75) which is Tk 21,181.75 crore.
This information has been informed in the latest report of Bangladesh Bank.
The volatility of the dollar market within the country is quite old. This crisis is gradually increasing. Due to lack of foreign exchange, imports have been tightened. The government and the central bank are struggling to solve the crisis of the American currency. Dollars are being provided from reserves to meet the situation. Yet none of the efforts to resolve the crisis are working.
Dollar sales continue from reserves to meet market conditions. Various bill payment reserves including Acu are also decreasing. Selling dollars reduced reserves by over $6 billion in the first five months (July-November) of the current fiscal year 2023-2024. Gross reserves have come down to $25 billion. And according to BPM-6, it has come down to $19 billion.
But in the meantime, remittances were raising new hopes. Remittances, one of the sources of currency income in the dollar crisis situation, started to increase from the beginning of November. It was expected to exceed $ 2 billion in the month.
However, after giving up all hope, it got stuck below $ 2 billion. At the end of the recent November month, $ 1.93 billion came. Which is $ 5 million less than the previous month of October. And $33 million more than the same month of last year (November-2022).
The latest report of Bangladesh Bank says that total remittances of $193 million have arrived in November. In Bangladesh currency (one dollar is equal to Tk 109.75) Tk 21,181.75 crore. This is nearly $50 million less than the previous month, October. About $1.6 billion came in October. However, $33 million more than last year’s November month. About $1.6 billion came in November last year.
$14.43 crore came through the state-owned banks in November, $5.32 crore came through one of the two specialized banks. $172.67 crore came through private banks and $59.20 lakh came through foreign banks. But no remittance came through seven banks. These include the state-owned Bangladesh Development Bank or BDBL, the specialized Rajshahi Agricultural Development Bank or Rakub, the private Community Bank, Citizens Bank, the foreignHabib Bank, National Bank of Pakistan and the State Bank of India.
According to sector officials, the highest number of remittances came through the banking channel in 2020 due to closure of hundi. In the outgoing 2022-2023 fiscal year, expatriates sent remittances of $2,161 million through banking channels. This is the second highest ever. Earlier, during the Corona period, the maximum remittance of $2,477 million came to the country in the fiscal year 2020-2021.

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