TBS report
December 3, 2023, 05:45 pm
Last modified: December 3, 2023 at 06:28 pm
Bangladesh received $1.93 billion in internal remittances in November, representing a 21% increase compared to the same period last year, according to central bank data.
The country received $1.59 billion in remittances in October last year.
Bankers confirmed the reasons for the increase in remittances – banks are buying at a higher rate, and the number of expatriates is on the rise.
In October, the country received $1.98 billion in internal remittances, the highest level in four months, as the value of the dollar rose and the government provided incentives to boost remittances.
According to the central bank, expatriates sent $643 million more remittances in October than in September, an increase of 48.2%. Remittance inflows reached a 41-month low of $1.33 billion in September.
As the year comes to an end, Bangladesh is celebrating a remarkable achievement in the field of foreign employment, breaking all previous records.
According to data from the Bureau of Manpower, Employment and Training (BMET), the country sent a staggering 1.204 million workers abroad as of November 29 this year, surpassing last year’s figure of 1.135 million workers.