Expatriates income decreased in July

The new financial year started with a slowdown in remittances sent by expatriates. In the first month of the fiscal year 2021-22, remittances of 187.14 million came to the country. That’s 6 crore 93 lakh dollars million less than in June. Besides, it is about 28 percent less than the same period last year.

According to a report released by Bangladesh Bank on Monday (August 2nd), expatriate Bangladeshis sent 181 crore 14 lakhs 90 thousand dollars (1.87 billion) remittances to the country in the recently concluded July. In Bangladeshi currency (Tk 85 per dollar) which amounts to TK 15 thousand 907 crore. Which is about 27.97 percent less than the same month of the previous year. In July last year, remittances came to 259.82 billion dollars.

Asked about this, Saleh Uddin Ahmed, former governor of Bangladesh Bank, said remittances have increased due to a number of reasons, including the Corona epidemic. In one of these epidemics, many expatriates lost their jobs, while many are in danger of losing their jobs. In such a situation, the money saved by the expatriates was sent back to the country. Again, due to the continuous lockdown and restrictions in the country, many relatives of the expatriates are in financial crisis. Sends money for them too. Besides, the government is sending more remittances to the country through legal channels due to the two percent cash incentive. Due to these reasons remittance flow increased.

Sunbd/NJ