Remittance up by 32% in November

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Bangla Tribune Desk
Published : 00:27, Dec 03, 2019 | Updated : 00:32, Dec 03, 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 $ 15.55 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 $11.8 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 $77.14 billion remittances during the first five months of the current fiscal 2019-20.
During the month of October, the country received $16.4 billion while $14.77 billion in September, $14.45 billion in August and $15.98 billion in July of fiscal 2019-20.
But in 2018-19, the country got $12.39 billion in October, $11.4 billion in September, $14.11 billion in August and $13.19 billion in July.
FX RESERVES FALL
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.

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