Bangladesh's remittance inflow jumps over 31% in November
Bangladesh received US$2.89 billion in remittances in November, marking a 31.37 percent increase from the same month last year, according to Bangladesh Bank data. Expatriates had sent $2.20 billion in November of the previous year.
The latest figure is also 13 percent higher than October’s inflow of $2.56 billion, reflecting continued momentum in overseas income sent home by migrant workers.
Remittances have been rising steadily since December last year. Industry insiders attribute the growth to a reduced gap between official and informal exchange rates as well as stricter actions against money laundering, which have encouraged more transfers through formal banking channels.
Between July and November of the current fiscal year, total remittances reached $13.03 billion, up from $11.13 billion during the same period a year earlier.
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