Remittance inflow grows 20.3pc in first six days of May

The country’s remittance inflow registered a strong year-on-year growth of 20.3 percent, reaching $752 million in the first six days of May, according to the latest data released by Bangladesh Bank (BB) today. During the same period last year, remittance inflow stood at $625 million. The steady rise in inward remittances reflects continued resilience in external earnings and stronger inflows through formal banking channels, officials said.

Data also showed that expatriate Bangladeshis sent a total of $30,085 million in remittances during the period from July to May 6 of the current fiscal year. In comparison, the inflow was $25,163 million during the corresponding period of the previous fiscal year. The upward trend in remittance earnings is expected to provide support to the country’s foreign exchange reserves and help stabilise the external sector, analysts added.