Remittance surges in July, up 18%

Bangladesh received inward remittance worth US $1,1317 million during July, up 18 per cent on a year-to-year basis compared to the same month last year.

FT ONLINE

Bangladesh received inward remittance worth US $1,1317 million during July, up 18 per cent on a year-to-year basis compared to the same month last year.

An official at Bangladesh Bank confirmed the development this morning.

Back in July 2017, Bangladesh received remittance worth over US $1,115 million – mostly sent home by Bangladeshis working overseas.

Inward remittance bounced back strongly in the just concluded fiscal year, mainly due to the depreciation of the taka against the US dollar.

The country received remittances worth $14.98 billion in 2017-18, up 17.31 percent from the previous year, according to Bangladesh Bank data.