Bangladesh receives $1.98bn in remittances in Oct

Bangladesh received $1.98 billion in inward remittances in October, the highest in four months, due to increase in dollar rate as well as increase in incentives.

According to the central bank data, expatriates sent $643 million more remittances in October compared to September, having a growth rate of 48.20 percent. Remittances stood at $1.33 billion in September, which was the lowest in the last 41 months.

Earlier in October 2022, Bangladesh received $1.59 billion in remittances, reports BSS.

The remittance incentive has been increased from 2.5 percent to 5 percent at the end of this month for which remittances have come in higher this month.

In the first four months (July-October) of the current financial year 2023-24, Bangladesh received $6.88 billion in remittances. It is 4.36 percent lower than the amount received ($7.19 billion) in the same eriod of the previous fiscal year.