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Bank & Finance - World wide - August 11, 2022

Remittances see positive trend in August

Staff Correspondent: Bangladesh received $55 crores in the first 7 days of August. According to the current exchange rate (Tk 95 per dollar) which is Tk 5,225 crore and 48.20 percent higher than that of August last year.
On the 7th day of August last year (August 1 to 7), expatriates sent remittances worth 37.10 crores dollars.
According to Bangladesh Bank data, after July, the remittances or expatriate income has seen positive flow in August as well. An average of 7.86 crores dollars (Tk 746 crore) came every day.
Due to the huge demand for dollars in the market, banks are collecting remittances even at the rate of more than Tk 110.
Bangladesh Bank spokesperson and executive director Sirajul Islam said that the positive trend of remittances will continue. He mentioned that it is expected that remittances of more than 2 billion dollars will come in the month of August as well as in the month of July.
In July, the first month of the fiscal year 2022-23, expatriates sent $2.1 billion remittance which was the highest in the last 14 months and 12 percent more than that of July last year.
According to Bangladesh Bank data, from July 1 to August 7 (1 month and 7 days) of the current financial year 2022-23, 264 crores 70 lakh (2.65 billion) dollars came into the country, which is 18 percent higher than that of the same period last year. From July to August 7 of the fiscal year 2021-22, expatriates sent 224 million 30 million (2.24 billion) dollars.

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