Bangladesh received $1.97 billion in remittances last month

In July, the first month of Fiscal Year 2023-24, Bangladesh received $1.97 billion in remittances, a decrease of 5.86 percent compared to July of the previous year.

According to Bangladesh Bank (BB) data, the amount of remittances sent by expatriates decreased by 10.27 percent in July, compared to the previous month, June.

Despite a decline in remittance inflows in July, central bank officials described the month as superior to others.

Md Sarwar Hossain, a spokesman for the Bangladesh Bank, told UNB that Eid-ul-Azha contributed to an increase in the volume of remittances sent by expatriates in June.

In FY23 (June-July), Bangladeshi expatriates sent $21.61 billion in remittances home. In the prior fiscal year, it was $21,03 billion.