Remittance up by 32% in November

Bangla Tribune Desk
Published : 00:27, Dec 03, 2019 | Updated : 18:20, Dec 17, 2019

This file photo shows a money changer counting US dollar bills at a currency exchange office in central Istanbul, Apr 15, 2015. Reuters/File PhotoExpatriate Bangladeshis sent $ 1.55 billion remittances in November of the current fiscal 2019-20, which is apparently 31.75 percent higher than the same month of the preceding year, according to a Bangladesh Bank (BB) data.
The country received $1.18 billion remittances during the month of November in 2018-19 financial year, the data added, reports BSS.
According to the BB data, expatriate Bangladeshis sent $7.71 billion remittances during the first five months of the current fiscal 2019-20.
During the month of October, the country received $1.64 billion while $1.48 billion in September, $1.45 billion in August and $1.6 billion in July of fiscal 2019-20.
But in 2018-19, the country got $1.24 billion in October, $1.14 billion in September, $1.41 billion in August and $1.32 billion in July.
Bangladesh’s foreign exchange reserves fell to $31.73 billion at the end of November from $32.44 billion the previous month, but were up 2.1 percent from a year earlier, the central bank said on Monday, reports Reuters.
The decline was fuelled by an increase in imports, a senior central bank official said, adding the reserves were sufficient to cover about 10 months’ worth of imports for the country’s more than $250 billion economy.