The upward curve of remittance inflow continued throughout July as Bangladeshi expatriates sent out $2.2 billion in the first month of the fiscal year with a 17.56 percent year-on-year rise. The remittances received through the banks last month were the highest in two years, surpassing the June inflow by 19.75 percent. Officials at the central bank believe the upward trajectory will cause the current foreign transaction balance deficit to shrink. Bangladesh Bank spokesperson Md Serajul Islam said, “Along with expanding incentives, the government is providing policy support to encourage expatriates to send remittances [through legal channels].”

Source: bd News24 August 01, 2022 06:15 UTC