Eid-ul-Azha is only a few days away. Remittance flow has increased keeping Qurbani (Eid-ul-Azha – Sacrifice) in mind. On the 16th day of June, the country’s remittances reached 112 crores 59 lakhs US dollars. As per the current exchange rate of Bangladeshi currency (Tk 108.50 per dollar), this amount is Tk 12,216 crore.
This information was revealed in the updated report of the country’s Central Bank, Bangladesh Bank (BB), on Monday (June 19).
BB says that the average remittance is $70 million every day. If this trend continues, the remittances will exceed $2 billion by the end of the month.
According to the information of the report, on the 16th day of June, remittances through state-owned banks amounted to 20 crores 72 lakhs 10 thousand US dollars – where 5 crores 92 lakhs 60 thousand US dollars came through a specialized bank, 85 crores 61 lakhs 70 thousand US dollars came from private banks and 32 lakh 60 thousand US dollars remittances came from foreign banks.
BB officials said that “cash incentives are available if remittances are sent through legal channels”. Due to this, expatriates are sending remittances via legitimate channels in view of Eid-ul-Azha. As a result, the remittance flow is increasing. If this trend continues, expatriate income is likely to exceed $2 billion at the end of the month.
In the last 2021-22 fiscal year, total remittances of 2,103.17 crore US dollars came to the country. Earlier, the amount of remittance collection in the 2020-21 fiscal year was 2,477.77 crore US dollars.