Remittance flow increased, Tk 15600 crore came in 21 days

The remittance flow of the country has returned again. This flow increased due to remittances sent by expatriates during the month of Eid. In the first 21 days of this July, 164 crore 28 million USD of remittances have arrived in the country. As per the current exchange rate of the local currency (Tk 95 per dollar), this amount is Tk 15 thousand 606 crore. An average of 743 crores per day.

This information has been revealed in the latest report of Bangladesh Bank on remittances.

According to the data of the Central Bank, Bangladeshi expatriates sent remittances of 2103 crores 17 lakhs (21.3 billion) US dollars to the country through banking channels in the recently concluded fiscal year 2021-22, which is 15.11 percent less than the previous fiscal year. In the fiscal year 2020-21, expatriates sent remittances of two thousand 477 crore 77 lakh (24.77 billion) dollars.

Remittances of 183 crore 72 million dollars came in June. This figure is 48 million dollars less than the previous month. In May this year, remittance of 188 crore 53 lakh came in the country.

Meanwhile, due to the dollar crisis in the country, the value of money is decreasing. In the interbank currency market, the central bank is now selling dollars to commercial banks at the rate of 94 taka 45 paisa. Means that Bangladesh Bank is selling dollars to the banks at this rate to meet the government import bill.

Earlier, this rate was 86 taka 45 paisa in early May this year. According to this, the value of taka has decreased by 8 in two months.

However, it has been found out in various banks and curb markets, now banks are charging 96 to 98 taka for import bills, selling cash dollars for 99 to 100 taka. And dollars are being sold at Tk 102 to Tk 104 in the open market or curb market outside the bank.