The inward remittance inflow has witnessed a consecutive downtrend in last three months.
Last September, the expatriates sent nearly $1.73 billion as remittance to the country, the lowest in the last 15 months.
The lowest-ever remittance inflow was recorded in May 2020 earlier with an inflow amounting to $1.50 billion
Ahsan H Mansur, Executive Director of Policy Research Institute of Bangladesh (PRIB) and chairman of BRAC Bank told The News Times said, basically the remittance inflow saw a rapid increase due to the pandemic. The reason of declining inflow is also the same.
‘‘He said that as the situation is now returning to normalcy, we are experiencing the as usual remittance inflow.’’
According to the latest data of Bangladesh bank, expats sent remittance $1.72 billion or Tk 14,759 crore last September.
This is almost a 20 percent decrease compared to amound received in September last yearwhich was around $215.10 billion.
The amount of inward remittance came in August this year is $181 billion. That’s $6.14 billion less than in July, which is about 6 percent less than the same period last year.
Earlier, in July this year, the total amount if inward remittance was $187.14 billion, about 26 percent less than the same period last year.
Talking about this matter, a senior official of the Bangladesh Bank told The News Times that the inflow of inward remittance increased for two reasons. Firstly, inward remittances increase during festivals, especially during the Eid-ul-Fitr and Eid-ul-Azha as expatriates send more and more money to their famlity relatives.
Secondly, the inward remittance also increased due to the Pandemic. Expats sent their savings to the country during this time. In addition, the hundi trend declined due to the stagnation of the corona at the beginning of last year. As a result, the amount of money came to the banking channel. Due to these reasons, the remittance inflow increased even during the epidemic, he added,
