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The Financial Express

34.95pc remittance growth recorded in seven months of FY21

| Updated: February 03, 2021 09:59:24


34.95pc remittance growth recorded in seven months of FY21

Bangladesh recorded a 34.95 per cent growth of remittance in seven months of the fiscal year 2020-21 (FY21) compared to the same period of the last fiscal year.

The country received $1.96 billion in remittance in January 2021, said the finance ministry on Monday.

The volume of remittance was $1.64 billion in the same period of last year, reports UNB citing the central bank data.

Total remittance stood at $14.9 billion in the first seven months of FY21 (July 2020 to January 2021), which was $11.05 billion in the corresponding period of the previous fiscal, the data showed.

According to the Bangladesh Bank, the country's foreign exchange reserve stood at around $43 billion.

Experts said that the remittance inflow grew amid the Covid-19 pandemic as expatriate Bangladeshis continued to send their hard-earned money through the banking system instead of illegal channels.

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