Remittance inflow grows 37.5pc in 13 days of May

The country’s remittance inflow registered a strong year-on-year growth of 37.5 percent, reaching $1,743 million in the first 13 days of May, according to the latest data released by Bangladesh Bank (BB) today. During the same period last year, remittance inflow stood at $1,267 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 $31,076 million in remittances during the period from July to May 13 of the current fiscal year. In comparison, the inflow was $25,805 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.