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Bangladesh receives record $2.09 billion remittance in April

Economy 2022-05-05, 11:05pm

Foreign exchange



Bangladesh has received USD $2.09 billion in remittances in April, the highest amount  in a single month of the current fiscal year.

Bangladesh Bank (BB) published the updated information on Thursday (May5).

According to the sector insiders, expatriates usually send more remittances to the country on the occasion of Eid festival.

In its continuation, the flow of remittances has increased since the beginning of Ramadan.

Besides, the government is now giving 2.5 percent incentive on remitances.

According to the BB, five state-owned commercial banks received $354.89 million in April, private commercial banks received remittance of $1612.74 million, foreign banks$7.35 and two specialized banks $34.51 million.

Bangladesh received $1.85 billion in remittances in March of fiscal year 2021-22, reports UNB.