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Nearly 12,000 Crore Taka in Remittances in 12 Days

Rtv News

  14 Oct 2024, 18:42
Photo: Collected

The flow of remittances remains upward in October, following a similar trend observed in September. In the first 12 days of October, Bangladesh received remittances worth $986.63 million. At an exchange rate of 120 taka per dollar, this amounts to 11,839.20 crore taka.

According to data from the Bangladesh Bank, the average daily inflow during this period was approximately $82.2 million, or 986 crore taka. If this trend continues, total remittances for October are expected to exceed $2.5 billion.

During this time, state-owned banks handled $245.57 million in remittances, while one specialized bank (Agrani Bank) received $44.55 million. Private banks facilitated $693.57 million, and foreign banks processed $2.64 million.

However, 11 banks did not receive any remittances during this period. Among these are the state-owned Bangladesh Development Bank (BDBL) and the Rajshahi Krishi Unnayan Bank (RAKUB). Private banks with no remittance inflows include Community Bank, Citizens Bank, ICB Islamic Bank, Padma Bank, and Union Bank. On the foreign side, Habib Bank, National Bank of Pakistan, State Bank of India, and Woori Bank reported no remittance inflows.

In September 2024, expatriates sent a total of $2.4048 billion, equivalent to over 28,856 crore taka. In July, the first month of the fiscal year 2024-25, remittances amounted to $1.9 billion. In June, the figure was $2.5416 billion, while May recorded $2.2538 billion. For April, March, February, and January, remittances stood at $2.0442 billion, $1.997 billion, $2.1645 billion, and $2.1131 billion, respectively.

The highest remittance inflow in a single month in Bangladesh’s history was recorded in July 2020, amounting to $2.6 billion. The 2020-2021 fiscal year saw the highest annual inflow, with total remittances reaching $24.78 billion. In June 2024 alone, the total remittance inflow via banking channels was $2.54 billion.

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