Remittance inflows hit a record high of US$24.77 billion in the just-concluded fiscal year (FY21), thanks to the expatriate Bangladeshis for sending money amid the Covid-19 pandemic.
Expatriate Bangladeshis sent 36 per cent higher remittance in fiscal 2020-21 compared to the same period in the fiscal 2019-20, when it was $18.20 billion, Bangladesh Bank data shows.
In the wake of the Covid-19 pandemic, the remittance inflow, one of the main barometers of the economy, dipped from March to May of 2020.
“The inflow of remittances shows hit a record high in the current fiscal 2020-21 as the BB has taken measures to streamline the legal channels for encouraging Non Resident Bangladeshis (NRBs) to send money to the country,” local media reported citing BB Chief Spokesperson M Serajul Islam.
M Serajul Islam said the recent flow of remittance indicates that it is gradually increasing and this trend is likely to continue in the fiscal 2021-22.
