Remittance in Sept drops by 20% from Aug

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Bangla Tribune Report
Published : 22:49, Oct 02, 2018 | Updated : 23:00, Oct 02, 2018

The latest figures put Bangladesh’s forex reserve at $32 billion. REUTERS/file photoExpatriate Bangladeshis have sent nearly $1.13 billion in September, down by 20 percent from the previous month.
Remittance inflow in August stood at a little over $1.41 billion.
According to the latest figures released by the central banks on Tuesday, in the first three months (July-September) of the current 2018-19 fiscal year, expatriates remitted over $3.86 billion.
Remittances sent by expatriates account for 12 percent of Bangladesh’s gross domestic product (GDP).
The latest figures put Bangladesh’s forex reserve at $32 billion.
The remittance inflow had been hovering over $14 billion annually since 2012-13 fiscal year. It crossed the $15 billion mark in fiscal 2014-15.
The amount dropped 2.5 percent to a little below the $15 billion mark in 2015-16 and to a six-year low of $12.77 billion in the last fiscal year.
Bangladesh receives the bulk of its remittances from six Middle-East countries – Saudi Arabia, the United Arab Emirates, Qatar, Oman, Kuwait and Bahrain.

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