Dhaka: Expatriate Bangladeshis sent $2.89 billion in remittances in November, marking a 31.37 percent increase compared to the same month the previous year. This significant rise, as reported by Bangladesh Bank, shows a notable growth from the $2.20 billion sent in November last year.
According to Bangladesh Sangbad Sangstha, the remittance figure for November is also 13 percent higher than the $2.56 billion recorded in October. The country has been experiencing an upward trend in remittance inflows since December of last year, attributed to several contributing factors.
Industry insiders attribute this growth to a narrowing gap between official and informal exchange rates, as well as a crackdown on money laundering. These efforts have helped bolster the official remittance channels.
In the fiscal year period from July to November, the remittance inflow reached $13.03 billion, up from $11.13 billion in the same period of the previous fiscal year, according to the data.