Remittance inflow increases by 15% in January

Expatriate Bangladeshis sent $1.95 billion in remittances in January, which was around 15 percent higher than the amount received in December last year.

The wage earners sent $1.7 billion remittance to the country in December of 2022, reports BSS.

With the latest addition, the year-on-year growth in receiving remittances stood at 4.3 percent for the first seven months, July to January, of the ongoing fiscal year (FY23) as the country received $12.45 billion in total during the period. Last year, it was $11.94 billion.

“The flow of remittances into the country shows an upward trend as the government has taken measures to streamline the legal channel for encouraging non-resident Bangladeshis (NRBs) to send money to the country,” said a senior official of the central bank.

Premier Bank Limited Deputy Managing Director (DMD) Abdul Quaium Chowdhury said if determining the dollar rate is left to the market, the influx of remittance will increase further.

“The remittance sector has now come to a comfortable position,” he added.