Eid remittance came to 13 and a half thousand crore taka

During the holy Eid-ul-Fitr, the expatriate income, i.e. remittances, came to 127 million 17 million US dollars through legal channels. In Bangladeshi currency (107 taka per dollar) which amounts to 13 thousand 607 crore taka. This amount of money arrived in the country on the first 21 days of April this month.

This information has emerged in the updated statistics of Bangladesh Bank published on Monday (April 24). Analysis of the data shows that Rozar sent more remittances at the beginning and middle of the fast. Of late it has decreased. Remittances are expected to come in less in the last week of April as well. If that is the case, it is assumed that the amount of remittance will decrease in the current month compared to the last month.

Reviewing the data of the Central Bank, it can be seen that in the first 21 days of April, remittances have reached 127 million 17 million US dollars. Of this, 173.7 million dollars came through state-owned banks. Besides, 3 crore 63 lakh 40 thousand US dollars came through a specialized bank, 105 crore 73 lakh US dollars came through private banks and 42 lakh 90 thousand US dollars came through foreign banks.

In the first 7 days of April, expatriates sent remittances of 47.68 million US dollars. From April 8 to 14, he sent 481.8 million US dollars. From April 15 to 21 sent 31.3 million US dollars.

According to the data of the Central Bank, last month, 201 crore 77 lakh 80 thousand dollars of remittances came in the legitimate way. In local currency (107 taka per dollar) which amounts to taka 21 thousand 589 crores. Out of this, 23.46 million dollars or more than Tk 2510 crore came through state-owned banks. Expatriate income of 4.5 million dollars or 482 million rupees has come through specialized banks. 173 crore 15 lakh dollars or 18 thousand 527 crore taka through private banks and 65 lakh 20 thousand dollars came through foreign sector banks.

In the previous month of February, remittances came in at 1.56 billion 1.2 million dollars. Compared to that, in March, 457.2 million dollars more remittances came to the country.

In addition, remittances have increased by 8.49 percent or 15.8 million dollars compared to March of the previous year (2022). Expatriate income in March last year was 1.85 billion 9.7 million dollars.

The central bank has taken various initiatives to increase remittances. The central bank is encouraging various ways to send remittances through legal channels. The latter has relaxed the conditions for filling Form C to bring remittance income to the country in return for services. Besides, service sector entrepreneurs and exporters have been given the opportunity to bring 20 thousand US dollars or equivalent foreign currency into the country without declaration.

Read More