Remittance inflow rises 32pc in Sept

The expatriate Bangladeshis have sent home over $1.13 billion in September, an increase of about 32 per cent from the same period a year earlier, reports bdnews24.com.

In the first three months (July-September) of the current fiscal year, expatriates remitted over $3.86 billion, which is 13.73 per cent higher than the remittance sent in the corresponding period of the previous fiscal year, according to latest data released by the Bangladesh Bank.

A rise in global oil prices, the stronger dollar against Taka and the central bank's steps to encourage expatriates to remit funds through legal channels are the reasons for the higher remittance inflow, analysts say.

The remittance growth has also boosted foreign currency reserves that were $32.12 billion on Tuesday, says the central bank.