Over 1 billion dollars remittance in 18 days

Over 1 billion dollars remittance in 18 days

News Source:

The positive trend continued in the remittance flow sent by expatriates last year.

About half of the first half of the new year is still to be finished; Meanwhile, the amount of remittance exceeded 100 Crore dollars (1 billion).

One of the main indicators of the economy of Bangladesh ended with the good news of remittance in 2018. In the last year, the remittance of 1,553 Crore 78 lakh (15.54 billion) sent abroad expatriates living in different countries of the world.

Which was about 15% higher than the year 2017.

In continuation of this, expatriates have sent remittances of $100 Crore and $70 Lakh (January 1 to January 18) in the current month of January.

Foreign exchange reserves (Reserve) of the Bangladesh Bank in satisfactory condition increases the remittance. The reserve amount was 31.1 billion dollars on Sunday.

Officials of the Bangladesh Bank said that on January 8, the Asian Clearing Union (AQ) has been paying $114 crore $80 lakh (1.15 billion) of import bill, but the reserve is above $ 31 billion mainly due to the increase in remittance.

Bangladeshi workers and expatriates in Saudi Arabia are keeping the money sent to the workers of the economy of Bangladesh Bangladeshi workers and expatriates in Saudi Arabia are keeping the money sent to the workers of the economy of Bangladesh Executive Director of Policy Research Institute (PRI) Ahsan H Mansur has advised the exchange rate of US Dollar-Rupee 85 to raise remittance.

He said many countries, including India, China, Vietnam, have greatly devalued their currency against the US dollar. Has been in Bangladesh; However, fewer than these countries.

The researcher said that in the last six months, the dollar rate has increased by more than 7% against the Indian currency. In comparison to that, the dollar’s rate against the currency of the currency increased by only 18 percent.

“I think the price of the Dalal should be ‘fixed’ at 85 rupees soon to increase remittance sent to export earners and expatriates.”

According to the Bangladesh Bank data review, in the first half of the current financial year (July-December) of 2018-19, remittance of 749.13 million dollars came in Bangladesh. Which is 8 percent more than the same period last year.

In the last two months of 2018, remittances in November and December were respectively 118 million and 120 million 28 million dollars respectively. In 2018, came to Bangladesh with a total of $353.5 million dollars remittance. As a result, more than 14.77 percent remittance was more than the previous year.

In the financial year 2016-17, one of the main drivers of the country’s economy, the downturn of the remittance had broken the policy-makers’ forehead.

The central bank’s move to curb the dollar’s bullion and hunky stance in the local market led to the remittance of the last fiscal year. By cutting down the drought, Bangladesh ended 17 percent of the fiscal year ending in 17-18 percent growth.

Currently, there are more than one billion people living in different countries of the world. Their sent money has been an important contribution to the economy in Bangladesh. Remittance contribution to GDP of Bangladesh is 12 percent.