In July, the first month of Fiscal year 2023-24, Bangladesh received inward remittances totaling $1.97 billion. However, this figure showed a decline of 5.86 percent compared to the same period last year. The data from Bangladesh Bank (BB) revealed that in the previous month of June, expatriates had sent $2.19 billion in remittances, which also witnessed a decrease of 10.27 percent in July. Despite the drop in remittance inflow during this month, central bank officials consider it relatively better than other recent months.
According to Md Sarwar Hossain, a spokesperson for BB, the higher volume of remittances in June was boosted by Eid-ul-Azha celebrations. Looking at the overall fiscal year FY23 (June-July), Bangladeshi expatriates sent a total of $21.61 billion in remittances, compared to $21.03 billion in the previous fiscal year.
