4:34 pm - Monday October 18, 2923

Q1 remittances reach $ 4bn

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Bangladeshis living and working abroad remitted home nearly $4 billion in the first quarter of the current 2015-2016 fiscal year, a central bank official said on Wednesday.

Remittance-450x325Quoting provisional data, the Bangladesh Bank (BB) official said the flow of inward remittances in the first three months of the current fiscal year (July 2015-June 2016) fell two percent to $3,930.86 million, Xinhua reported.

After $1,389.56 million in July and $1,195.02 million in August, the amount of remittance in the last month stood at $1,346.28 million, down 0.15 percent than that of the same period a year earlier, said the official.

The inflow remittances, one of the key sources of foreign exchange for the impoverished nation, from nearly nine million Bangladeshis in the 2014-2015 fiscal year which concluded in June reached a record high of $15.3 billion, the BB data showed.

Most of the remittances come from Saudi Arabia, the UAE, the US, Kuwait, Britain, Malaysia, Oman, Qatar, Singapore, Bahrain, Italy and Australia, according to the bank.

– IANS | Dhaka