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Remittance flow data released by the central bank on Sunday shows that in the first 10 days of December, expatriates sent কোটি 614 million to the country.
In total, between January 1 and December 10, the country received .50 20.50 billion, which is about 12 percent more than the full year 2019.
Never before have so many remittances arrived in Bangladesh. In 2019, expatriates sent $ 17,330 million to the country.
According to the central bank, remittances totaled ৯ 10.90 billion in the five months to July-November.
According to this, remittances totaling দশ 11.80 billion have reached the country from July 1 to December 10 of the 2020-21 fiscal year. Remittances have increased by 43 percent during the same period last fiscal year.
And in the last six months of fiscal year 2019-20 (January 1 to June 30, 2000) they reached 7.89 billion, which is 12 percent more than the same period of the previous fiscal year.
In the first month of the fiscal year, remittances to the country reached 2.6 billion pounds sterling in the first month of the coronavirus epidemic, the highest in history.
Although remittances were expected to decline due to the epidemic, this did not happen. After the outbreak of the epidemic hit the world economy, remittances declined in April but rose again.
Sirajul Islam, chief executive officer and spokesperson for the Bank of Bangladesh, told bdnews24.com: And that is why it has surpassed িয়ন 20 billion before the end of the year. We expect it to reach £ 22 billion by the end of the year. “
In fiscal year 2019-20, remittances for 16.20 billion dollars have been sent by expatriates residing in different countries. That figure was 10.7 percent higher than the previous fiscal 2018-19 year.
This money sent for more than 1 Bangladeshi crore in different countries plays an important role in the economy of the country. The contribution of remittances to the country’s GDP is around 12 percent.
To increase the flow of remittances, the government is giving cash incentives at a rate of 2 percent from the last financial year.
Book new milestones
Meanwhile, Bangladesh’s foreign exchange reserves are reaching the 42 billion pound (4.2 billion rupee) milestone amid the epidemic, depending on remittances sent by expatriates.
At the end of the day on Sunday, reserves stood at £ 41.90 billion, more than at any time in the past.
According to the central bank, reserves have increased by about 10 billion billion in one year. As of December 9 last year, the reserves were £ 32.11 billion.
With current reserves, it is possible to cover the import cost of ten and a half months at the rate of four billion dollars per month.
The reserves have been growing steadily in recent years. Ten years ago, at the end of June of the 2009-10 fiscal year, reserves were $ 10.75 billion. At the end of the 2013-14 fiscal year, that reserve was £ 20 billion.
It exceeded 30 billion billion in October last year. On June 30 of this year, that reserve increased to £ 36 billion. বিল 40 billion without October 8.
Bangladesh Bank officials said Akur will have to pay the bill from November to December in the first week of January. Until then, the reserves will remain above 42 billion.
Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan, Sri Lanka and the Maldives – these nine countries are currently members of UNHCR. Invoices for all products that Bangladesh imports from these countries must be paid through Akur every two months.
By international standards, a country must have at least three months of foreign exchange reserves to cover import costs.
Old news
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With one month remaining, remittances are equal to the last financial year
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