Remittance inflow increased by 16.49 per cent to $14.17 billion last year compared with that of 2011 thanks to significant appreciation of the\u00a0dollar against the taka during the period, said Bangladesh Bank officials.
\nThe central bank data released on Wednesday showed that migrant Bangladeshis had sent about $14.17 billion in remittance in the year 2012 against $12.17 billion in 2011.
\nThe inward remittance inflow in December also increased by 12.03 per cent compared with that of the corresponding month in 2011.
\nThe inflow in December last year stood at $1,285.30 million against $1,147.22 million in December 2011.
\nThe BB data showed that the exchange rate of the taka against the dollar had declined by Tk 12 to Tk 13 over the months of January and February in 2012.
\nIn February, the rate of local currency against dollar was between Tk 84 and Tk 85 compared with about Tk 71.15 to Tk 71.30 in February 2011.
\nUnder the circumstances, the expatriates were encouraged to send more money home, a BB official told New Age on Wednesday.
\nBB data, however, showed that the dollar had depreciated significantly in the last month as it was quoted at Tk 79.75 2 on December 24 against Tk 81.26-Tk 81.37 on December 2.
\nThe official said that the central bank had been trying to stop depreciation of greenback during the last few months to earn uninterruptedly export earning and inward remittances.
\nAs part of the move, the BB purchased more than $2 billion from the local banks in the first six months of the current financial year, he said.
\nAnother BB official said that the amount of inward remittance had increased in the current financial year as a large number of people went abroad and they were sending more money through legal channels as the banks had opened numerous oversees windows to attract remittance inflow.
\nHe said the central bank\u2019s effort to encourage expatriates to send money through formal banking channels instead of the illegal \u2018hundi\u2019 system also boosted the remittance inflow.
\nThe Islami Bank Bangladesh had received the highest amount of remittance in December last, $353.04 million, among the commercial banks.
\nAmong the state-owned banks, the Sonali Bank received the highest amount, $153.52 million, in remittance from the expatriate Bangladeshis.<\/p>\n

-With New Age<\/span> input<\/p>\n","protected":false},"excerpt":{"rendered":"

Remittance inflow increased by 16.49 per cent to $14.17 billion last year compared with that of 2011 thanks to significant appreciation of the\u00a0dollar against the taka during the period, said Bangladesh Bank officials. The central bank data released on Wednesday showed that migrant Bangladeshis had sent about $14.17 billion in remittance in the year 2012 … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[4],"tags":[209,199,4029],"yoast_head":"\n