Remittances inflow increased by 25% in March as the country has braced the holy month of Ramadan.
Expatriate Bangladeshis sent $1.86 billion to the country last month, which is the highest in eight months, a report from Bangladesh Bank published Sunday (3 April) contained the information.
In February, the remittance inflow was the lowest in 21 months. The country received $1.49 billion in remittances that month.
However, the foreign currency inflow dropped by 2.66% year on year in March.
Industry insiders said remittance inflow has increased due to Ramadan.
Also, various government incentives have contributed to the increase while more workers are going abroad every day.
The flow will increase in the near future, they expect.
Remittances sent by expatriates have been declining since June last year as the Covid effect continues to wane.
After a six-month decline, remittances began to rise in December, although that trend continued in January.
By February, it had fallen sharply to a 21-month low since $1.09 billion remittance was recorded in May 2020.
