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Bank & Finance - April 2, 2023

Remittance rises to$2 billion in March

Staff Correspondent: Remittance earnings increased to $2 billion in March after six months thanks to offering higher dollar rate by banks than the rate set by Bangladesh Foreign Exchange Dealers Association (BAFEDA).
Bangladesh Bank data shows that remittance inflow through the banking channel rose by 29.29% in March from $1.5 billion in the previous month.
The remittance inflow increased through the banking channel as bankers offered a maximum Tk 117 per dollar when BAFEDA set the rate at Tk107, according to industry insiders.
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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