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Economic Reporter //

The pace of remittance or expatriate income is also on the upward trend in the month of October. In the first 12 days of October, remittances of 98.66 million 30 thousand dollars have arrived in the country. In Bangladeshi currency (at 120 taka per dollar), the amount is 11 thousand 839 crore 20 lakh taka.

According to the data published by Bangladesh Bank, in the current month of October, an average of about 8.5 million 2.2 million dollars or 986 million rupees of remittances are coming. If the flow of remittances continues like this, expatriate income will exceed two and a half billion dollars at the end of the month.

During the discussed period, 24 crore 55 lakh 70 thousand dollars came through state-owned banks, 4 crore 45 lakh 50 thousand dollars came through one of the two specialized banks (Krishi Bank). 69 crore 35 lakh 70 thousand dollars came through private banks and 26 lakh 40 thousand dollars came through foreign banks.

However, no remittance has come through 11 banks during this period. These banks include the state-owned Bangladesh Development Bank or BDBL, the specialized Rajshahi Agricultural Development Bank or RABAK. Private banks include Community Bank, Citizens Bank, ICB Islamic Bank, Padma Bank and Union Bank. And the foreign sector includes – Habib Bank, National Bank of Pakistan, State Bank of India and Uri Bank.

During the entire month of September, 2,404,800,000 dollars (2.40 billion) have been sent by the expatriate Bangladeshis living in different countries, which is more than 28,856 million taka in Bangladeshi currency (at 120 taka per dollar). In the first month of the current (2024-25) financial year, July, remittances of US$ 190 million came to the country. In addition, remittances came in June 254 million 16 million US dollars. The previous month in May came 225 million 38 million dollars. In addition, expatriates sent US dollars 204 million 42 million in April, 199 million 70 million in March, 216 million 45 million in February and 211 million 31 million in January.

The highest remittance in a single month in the country’s history was $2.6 billion in July 2020. Annually, the highest remittance comes in the fiscal year 2020-2021. In that financial year, the total remittance came to 24.78 billion or 2 thousand 478 million dollars. In June this year, a total of 254 million dollars of expatriate income came to the country through banking channels.