Bangladesh receives $1.52b remittance in October

With the declining trend in remittance earnings, Bangladesh received 1.52 billion in remittances in October, according to data released by the Bangladesh Bank on Tuesday.

Earlier, Bangladeshi expatriates sent $1.53 billion in September, down from $1.72 billion in the same month of the previous fiscal year.

The current fiscal year started with a growth trend in inward remittances while the country received $2.09 billion in remittances in July and $2.03 billion in August.

But the trend fell in September with the fall of the exchange rate of the dollar.

ALSO READ - Banks to provide Tk 107 per dollar to remitters: BB

On September 27, the rate for remittance collection fell to Tk 107.50 per USD, which took effect from October 1.

According to a decision taken by the Bangladesh Foreign Exchange Dealers’ Association (BAFEDA) and the Association of Bankers, Bangladesh (ABB) on October 23, the greenback rate has been lowered to Tk 107 from Tk 107.50.

The decision came into effect on November 1.