Remittance to Bangladesh hits $616m as of Dec 7

Dhaka: Bangladesh received $616.4 million in remittance through banking channels in the first week of December.

According Bangladesh Bank (BB) data released on Sunday (Dec 8), the daily average reached $88.1 million during this period.

It said the remittance inflow in the first week of December exceeded that of November's first week, which recorded $508.9 million.

Analysis of the central bank's data showed that out of the total remittances received by December 7; $185.2 million came through state-owned banks; $45.8 million through a specialized bank; $383.3 million through private banks; and $2.03 million through foreign banks.

Meanwhile, the country’s remittance inflow has shown fluctuating trends in the current fiscal year. After peaking at $2.53 billion in June, remittance fell to $1.91 billion in July, marking the lowest monthly total in ten months.

However, expatriates sent nearly $1.53 billion in remittances to Bangladesh during the first 19 days of October. 

The country received nearly $986.63 million in remittances in 12 days of October.

-B