Remittance inflows in Bangladesh have witnessed a remarkable 22% year-on-year increase in the initial 22 days of December, reaching $1.57 billion. This surge is attributed to the Bangladesh Bank’s flexibility in permitting a favorable exchange rate of up to Tk122 for a US dollar.
Bankers anticipate that if the current trend persists, remittance inflows may exceed $2 billion by the end of December. The Association of Bankers, Bangladesh (ABB), and the Bangladesh Foreign Exchange Dealers Association (Bafeda) have set guidelines allowing a maximum dollar rate of Tk112.24 for remittances, including a 2.5% incentive from banks’ funds.
Despite warnings from the central bank, some banks are buying remittance dollars at a maximum rate of Tk122, contributing to increased remittance inflows.
