Employee income or remittances have been increasing continuously since the beginning of the current (2024-25) fiscal year. That trend has continued in November, the fifth month of the fiscal year. About $2.2 billion has come in during the entire period of November. In local currency (at the rate of 120 taka per dollar), which is about 26,400 crore taka.
Updated data released by Bangladesh Bank on Sunday (December 1) says that in November, expatriate Bangladeshis living in different countries sent $2.19 billion. This month, an average of more than $73.3 million has come in daily. Remittances have come in at over $2 billion in the last four months.
During the period in question, $824.2 million came in through state-owned banks. $145.8 million came through the two specialized banks, Krishi Bank. $1223.1 million came through private banks during this period. In addition, $628 million came through foreign banks.
There are 9 banks that have not received any remittances during this period. These include the state-owned Bangladesh Development Bank (BDBL), the specialized Rajshahi Krishi Unnayan Bank (RAKAB). Private banks include Community Bank, Citizens Bank, ICB Islami Bank and Padma Bank. Foreign banks include Habib Bank, National Bank of Pakistan and State Bank of India.
Earlier, in the first month of the current fiscal year, in July, remittances of 1.91 billion US dollars came to the country. The next month, August saw 2.22 billion 4.1 million dollars, September 2.40 billion 4.8 million dollars, October 2.40 billion dollars and the last month, November, saw remittances of about 2.2 billion dollars.
In addition, remittances of 2.54 billion 1.6 million US dollars came in last June. The previous month, May, saw 2.25 billion 3.8 million dollars. In addition, Bangladeshis living abroad sent 204.42 crore in April, 199.70 crore in March, 216.45 crore in February and 211.31 crore in January.
Earlier, the highest remittance of 2.6 billion dollars in a single month in the country’s history was in July 2020. Year-wise, the highest remittance came in the 2020-21 fiscal year. The total remittance in that fiscal year was 24.78 billion or 24.78 billion dollars.
