Record single month remittance received in July

Record single month remittance received in July

Staff Correspondentdaily-bangladesh.com

Published: 07:27 4 August 2020   Updated: 12:09 4 August 2020

File Photo

File Photo

Despite the outbreak of the coronavirus epidemic, the monthly inflow of remittance hit an all-time high with almost $2.60 billion in July for Eid-ul-Adha. Never before in the history of the country have so many remittances come in a single month.

As a result, the foreign exchange reserves of Bangladesh Bank have increased to $3,729 crore till July 30.

Bangladesh Bank Executive Director Kazi Saidur Rahman told the media on Monday.

Expatriate Bangladeshis living in different countries of the world send a lot of remittances every year. Especially on the occasion of two Eids, expatriates send a huge amount of money for their families.

According to the Bangladesh Bank data, the country received $2.59 billion in remittance from expatriates during July, which is $1 billion or 62.89 percent higher than that in the same month last year.

According to the Bangladesh Bank, the final month of the fiscal year 2019-20, expats remitted $1.83 billion.

DailyBangladesh/DR/AS