Incredibly, it is true that the upward trend in remittance continues to rise despite the ongoing crisis of the coronavirus pandemic. With two more days left in July, more remittance has been recorded in the country than in June. In just 28 days of this month, expatriates have sent remittances of US 2.242 billion dollars.
The information was given in a press release sent by the finance ministry on Tuesday (July 28).
It is expected to reach 2.50 billion dollars by the end of the month. In a single month so much remittance never came in the history of Bangladesh. For the whole of June, remittances came to 1.833 billion dollar. It was about 39 percent higher than the same period last year and about 22 percent higher than in May. Now that record was broken in just 26 days of this month. Various measures, including timely 2 per cent cash incentives by the government, have important implications for this upward trend in remittance income to continue.
In addition, the country's foreign exchange reserves reached a new record of 37.11 billion US dollars (as of July 28) which is the highest ever in the history of Bangladesh. As on June 30, 2020, Bangladesh's foreign exchange reserves were 36.018 billion dollar. Until then it was the highest in the history of Bangladesh. In just one month, it reached a record 38.11 billion dollars.
On June 30 last year, Bangladesh's foreign exchange reserves were 32.617 billion US dollars. In the last one year, Bangladesh's foreign exchange reserves have increased significantly. The inflow of remittances has played an important role in the significant increase in reserves.
Finance Minister AHM Mustafa Kamal has expressed his gratitude and thanks to all the expatriates for their tireless efforts in this unprecedented achievement of the government under the strong leadership of Prime Minister Sheikh Hasina.