• Financial

Highest remittance in 14 months in July

  • Financial
  • 01 August, 2022 23:25:24

Photo: Collected

News Desk: The country's remittance flow has increased in July of the current financial year. This is the highest level in the last 14 months. Earlier, in May 2021, the country received 217.1 million dollars in remittances. This information has emerged in the latest report of Bangladesh Bank regarding remittance published on Monday (August 1). According to the report of Bangladesh Bank, remittances in July 2021 reached 187 crore 14 lakh US dollars. And in the last month of 2021-22 financial year, last June, remittances reached 184 million US dollars. In June of FY2021-21, remittances came in at $194 million. Which is 10 million dollars less than the same period of the previous financial year. Those concerned say that the remittance flow before the two Eids in the whole year increases more than other times. As there is a demand for cash in the country during Eid, expatriates send remittances to their relatives to supply it. In this meaning of expatriates, the relatives in the country fulfill the needs of Eid sacrifice and necessary shopping. And so this time around Eid-ul-Azha, some speed has returned in the flow of remittances. According to the data, remittances of 209.69 million dollars came in July. As a single month, this figure is the highest in the last 14 months. Before this, lastly in May 2021, remittances of 217 crore 1 million dollars came to the country. July brought in about $260 million more than the previous month, June. In June, remittances came in at 1.83 billion 72 million dollars. In the previous month of May, remittances came in at 188.53 million dollars. In addition, in July of this year, compared to July of the previous year, 225 million dollars more came. In July last year, expatriates sent 187 million 15 million dollars. Spokesperson and Executive Director of the Central Bank. Sirajul Islam said that Bangladesh Bank has simplified various processes to increase remittance flow in banking channels. The government is also extending remittance incentives as well as providing policy support. Now the dollar rate is getting higher. Apart from this last month was Eid-ul-Azha, expatriates sent money to celebrate the family's Eid festival beautifully. Remittances have increased due to these reasons. Hopefully, this trend will continue. Meanwhile, the dollar is increasing day by day due to the crisis. Interbank dollar exchange was 94.70 rupees. And 108 taka per dollar is being sold in the open market.

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