The month of August saw non-resident Bangladeshis send $1.167 billion in remittance, down by 2.84 percent from July’s receipts of $1.201 billion, the central bank said yesterday.
The figure, however, is 6 percent higher than the $1.102 billion recorded for August 2011.
This is the ninth consecutive month that Bangladesh has received over one billion dollar in remittance.
The remittance in the first two months of 2012-13 rose by 11.9 percent over the same period a year ago.
Bangladesh’s more than 7 million migrant workers sent home $12.84 billion in fiscal 2011-12, 10.32 percent higher than the previous fiscal year.
Along with the rebound in garment exports, the healthy flow of remittance has boosted the country’s foreign exchange reserves. The reserves, which rose for the third month in a row in August, as of yesterday, stood at $11.44 billion.
August’s remittance was the third highest recorded since January, as migrant workers sent more money to their relatives on the occasion of Eid-ul-Fitr.
Courtesy of The Daily Star
