Bangladesh sees remittance inflows up to $6.54b in Q1

Bangladeshi expatriates sent over $6.54 billion in remittances during the first quarter of the current fiscal year, a significant increase from the previous year’s $4.91 billion, the latest central bank data showed on Wednesday.

According to the Bangladesh Bank (BB), the monthly trend of remittances saw a steady rise, reaching $2.40 billion in September, up from $2.22 billion in August and $1.91 billion in July. This represents a remarkable 80 per cent rise compared to September of the previous year.

Overall, Bangladesh’s remittances grew by 10 per cent year-on-year to $23.9 billion in fiscal 2023-24, with June 2024 receiving $2.54 billion. The remittances were mostly from the Middle Eastern countries of Saudi Arabia, the UAE, Kuwait, Oman, Qatar, and Bahrain.

Attribution: Xinhua

Subediting: Y.Yasser