Since the start of fasting, expatriate Bangladeshis have been increasing their remittance transactions, resulting in the arrival of $958.7 million in legal or banking channels in the country by April 14th. This equates to 10,258 crore taka in local currency, with each dollar valued at 107 taka. The central bank released updated statistics on Sunday, which revealed that $133.32 million arrived through state-owned banks, $268.20 million through specialized banks, $794.3 million through private banks, and $3.322 million through foreign banks.
Legal remittance transactions in March amounted to $201.77 million, which is equivalent to 21,589 crore taka in local currency, and is $45.72 million more than the previous month of February. In February, remittances amounted to $1.5612 billion. Compared to March of the previous year, remittance in March 2022 increased by 8.49%, or $158 million. During the same period last year, expatriate income was $185.97 million.
In the first nine months of the 2022-23 financial year (July to March), total remittances amounted to $1,630 million, exceeding the previous year’s figure of $1,529 million by $740 million. The central bank has implemented various measures to increase remittance transactions, such as relaxing the conditions for filling Form C to bring remittance income to the country, allowing service sector entrepreneurs and exporters to bring $20,000 or equivalent foreign currency into the country without declaration, and offering various incentives to remittance senders.
