Expatriate income also ebbs in October
The flow of remittances in the country has decreased since last May. It continued in October. In August, the expatriate income came to 181 crore dollar. It fell to 172 crore dollar in September. In October, remittances dropped further to 164.68 lakh dollar.
According to the Bangladesh Bank, the expatriate income has come down by 22 percent as compared to October last year. Expatriate income has been on a downward trend for five consecutive months.
According to a report released by Bangladesh Bank on Monday (November 1), expatriate Bangladeshis sent remittances of 164.68 crore dollar through banking channels in the just-concluded October. In Bangladeshi currency (85 rupees 70 paise per dollar) which amounts to Tk. 14113 crore which is 45.52 crore dollar, or 21.6 percent less than the same month of last year. In October 2020, the amount of expatriate income was 210 crore 21 lakh dollars.
According to the central bank, remittances fell by 9 crore dollar in September compared to August. Last August, expatriate income was 181 crore dollar, which is 6 crore dollar less than in July. In July, remittances reached 187 crore dollar, which is 69.3 crore dollar less than in June. Remittances in June came to 194 crore dollar, which is 23 crore dollar less than in May.
Meanwhile, according to the information given by Bangladesh Bank, the lowest remittance in the last 16 months came in October.
As always, the expatriates have sent the most remittances through private Islamic banks. Remittances through the bank came to 41.95 crore dollar followed by Dutch-Bangla Bank Limited. 17. 97 crore dollars came through this bank. Remittances came through Agrani Bank for 13.18 crore dollar, Sonali Bank for 10.87 crore dollar and Bank Asia for 8.26 crore dollar.
The total remittances through private sector banks this month came to 127.52 crore dollar. Remittances through foreign banks came to 70.90 lakh dollars.