Remittance inflow increased to a fourteen-month high in July which was around 14 percent higher than the previous month of this year. 

Bangladesh received $2.09 billion from the migrants overseas in July which was $1.83 billion in June.

Remittance flow to Bangladesh also rose to 11.76 percent year-on-year.

The flow of remittance is a development that would bring some relief for the country that is struggling to keep its foreign currency reserves in a healthy shape, said an official concerned.

This upward movement, albeit largely buoyed by the Eid festival, would come as a relief for Bangladesh after remittances slipped back into negative in 2021-22 for the first time in the last six fiscal years as many remitters opted for the informal channels to send their money as economies reopened in keeping with the easing of travel restrictions.

BDST: 2118 HRS, Aug 01, 2022
MSK/SMS