On July 13, expatriate income of Tk 11,500 crore came
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In the first 13 days of July, the inaugural month of the new fiscal year 2024-25, Bangladesh has seen a substantial influx of expatriate income, with remittances totaling 978.6 million US dollars. This figure, amounting to 11,548 crore taka at the exchange rate of 118 taka per dollar, reflects an average daily remittance of 75.2 million dollars.
This information comes from the latest report published by the central bank on Sunday (July 14).
A breakdown of the data from the Central Bank reveals the distribution of remittances received during this period:
- State-owned Banks: 13.67 million dollars
- Specialized Banks: 5.47 million dollars
- Private Banks: 78.9 million dollars
- Foreign Banks: 25.4 million dollars
In June, the final month of the recently concluded fiscal year 2023-24, remittances reached 254 million US dollars, marking the highest monthly remittance in the last three financial years and the highest in 47 months for a single month.
The remittance figures for each month of the fiscal year 2023-24 were as follows:
- July: 1,973.1 million dollars
- August: 1,599.4 million dollars
- September: 1,334.3 million dollars
- October: 1,971.4 million dollars
- November: 1,930 million dollars
- December: 1,991.2 million dollars
- January: 2,113.1 million dollars
- February: 2,164.5 million dollars
- March: 1,997 million dollars
- April: 2,044.2 million dollars
- May: 2,253.8 million dollars
For the entire fiscal year 2023-24, Bangladesh received foreign exchange remittances equivalent to 23,920 million US dollars, translating to 282,000 crore taka. This amount is the second highest annual remittance collection in the country's history, surpassed only by the record 24,770 million dollars received in the fiscal year 2020-21.
These robust remittance figures underscore the critical role of expatriate income in bolstering Bangladesh's economy and highlight the continued confidence of the Bangladeshi diaspora in contributing to their home country's financial stability.