Dhaka: The country's remittance inflow experienced a significant year-on-year growth of 19.1 percent, reaching a total of $1,029 million in the first nine days of May, as reported by Bangladesh Bank today. This figure marks an increase from the $864 million recorded during the same period last year.
According to Bangladesh Sangbad Sangstha, the steady increase in inward remittances highlights the continued resilience in external earnings and stronger inflows through formal banking channels. Expatriate Bangladeshis have sent a total of $30,362 million in remittances from July to May 9 of the current fiscal year, compared to $25,401 million during the corresponding period of the previous fiscal year.
This upward trend in remittance earnings is anticipated to provide support to the country's foreign exchange reserves and assist in stabilizing the external sector, as noted by analysts.