Expats remit $567.71m in July
Wednesday, 8 August 2007
FE Report
Bangladeshi expatriates remitted US$567.71 million in the first month of the current fiscal. The amount is 37.52 per cent higher than the corresponding period of the last fiscal, official sources said.
The remittance in July was a continuation of last fiscal's trend and record inflow of $5.98 billion. The growth in 2006-07 was 24.52 per cent over the previous fiscal.
The remittance in June 2007 was $516.38 million registering an increase of 9.94 percent in July this year.
The country's foreign exchange reserve stood at $5.11 billion Tuesday, thanks to a robust growth of remittances from Bangladeshis working abroad, sources in the central bank said.
"We are expecting to increase the flow of inward remittances in the near future," a senior official of the Bangladesh Bank told the FE, adding that the inflow of remittance normally increase before the Eid festival.
Bangladeshi expatriates remitted US$567.71 million in the first month of the current fiscal. The amount is 37.52 per cent higher than the corresponding period of the last fiscal, official sources said.
The remittance in July was a continuation of last fiscal's trend and record inflow of $5.98 billion. The growth in 2006-07 was 24.52 per cent over the previous fiscal.
The remittance in June 2007 was $516.38 million registering an increase of 9.94 percent in July this year.
The country's foreign exchange reserve stood at $5.11 billion Tuesday, thanks to a robust growth of remittances from Bangladeshis working abroad, sources in the central bank said.
"We are expecting to increase the flow of inward remittances in the near future," a senior official of the Bangladesh Bank told the FE, adding that the inflow of remittance normally increase before the Eid festival.