Economy Desk: In the first 9 months of the fiscal year 2022–23 (from July to March), total remittances have reached 1,630 billion US dollars. In the same period of the previous financial year, remittances came in at 1,529 million dollars. During the period under discussion, remittances of US$ 740 million have come in excess.
In the outgoing fiscal year 2021–22, the total remittance came to 2 thousand 103 crore (17 lakh) US dollars. Earlier, the amount of remittance collection in the financial year 2020–21 was 2 thousand 477 crore, or 77 million US dollars.
The central bank has taken various initiatives to increase remittances. The latter has relaxed the conditions for filling out Form C to bring remittance income to the country in return for services. Besides, service sector entrepreneurs and exporters have been given the opportunity to bring $20,000 or equivalent foreign currency into the country without declaring it.
In view of Eid, every year in the month of Ramadan, remittances and emigration incomes increase more than usual. This time is no exception. Remittance flow has been increasing since the beginning of fasting. As of April 7, money equivalent to 470 million US dollars has arrived in the country through legal or banking channels. According to this, the daily average is 68.1 million dollars. If the current trend continues, remittances will total two billion dollars at the end of this month.
This information was revealed in the updated statistics published by the central bank on Sunday.
According to a review of the data from the Central Bank, remittances in the first seven days of March reached 476.89 million US dollars ($476.69 million). Among them, 60 million 12 million dollars came through state-owned banks, 1 million 28 million 40 thousand US dollars came through a specialized bank, 40 million 14 million dollars came through private banks, and 14 million 40 thousand US dollars came through foreign banks.
In the last month of March, 201 million and 77 million dollars of remittances came through legal channels. In local currency (at 107 taka per dollar), which amounts to 21 thousand, 589 crore taka, which is 45 crore, 72 lakh dollars more than the previous month. Last February, remittances came in at 156 million 12 million dollars.
In addition, compared to March of the previous year (2022), remittances have increased by 8.49 percent, or 158 million dollars.
