Bangladesh has received $357.76 million remittance in the first week of October.
According to the Bangladesh Bank data, despite hiking cash incentive to 2.5 per cent, from 2 per cent, in the current fiscal year (2022-23), the inward flow of remittance saw a fall in September. This trend remains so far in October.
Expatriates sent inward remittance of $1.54 billion in September, which is the lowest in last 7 months, reports UNB.
After a decline in September, remittance is showing slow pace in October as well. In the first six days of the current month, expatriate income or remittance worth $357.7 million came to Bangladesh, said a Bangladesh Bank official.
Financial sector insiders believe that expatriate prefers Hundi for inward remittance as the exchange rate of the US dollar is Tk 8 to 14 higher in the kerb market.
Bd-pratidin English/Golam Rosul
