Due to the impact of Corona and the Ukraine-Russia war, the world economy is in turmoil. There are many concerns and worries about the country’s economy. Meanwhile, the income of expatriates sent from different countries of the world is raising hope. After the month of July, the pace of remittances is also very high in August.
Expatriate income, one of the main sources of foreign exchange reserves, has flowed more than 2 billion (2 billion) dollars in August after July. Expatriates sent about $204 million (2.04 billion) in August, which is 12.60 percent more than the same month last year. In August last year, remittances came in at $1.81 billion.
According to Bangladesh Bank sources, expatriates sent remittances worth 203.8 million dollars in August. According to the current exchange rate fixed by Bangladesh Bank (95 Taka per dollar), the amount is 19 thousand 310 crores. Apart from this, banks are collecting remittances at Tk 105-106 as there is a huge demand for dollars in the open market. This amount is more if we take that account into account.
Remittances have increased by 12.30 percent in two months (July-August) of the current fiscal year 2022-23. In these two months, remittances have reached 413 crores and 40 million dollars. 368.2 million dollars came in July-August last year.
Meanwhile, in July, the first month of the new financial year, expatriates sent remittances of 209,690,000 (about 2.1 billion) dollars, which was the highest in the last 14 months and 12 percent more than July last year.