bdnews24.com :
Published: 2014-02-03 23:56:30.0 BdST Updated: 2014-02-04 00:08:05.0 BdST
Bangladeshi expatriates last month remitted over $1.25 billion, the highest in the first seven months of the current fiscal.
According to central bank statistics released on Monday, the figure is $40 million or 3.3 percent higher than the remittance last January.
Bangladesh Bank Forex Reserve and Treasury Management Department General Manager Kazi Saidur Rahman said the remittance inflow might maintain the ‘positive trend’ in the remaining five months of the 2013-14 FY.
“Expatriates are sending home all their remittance through the banking channel, as prices of dollars (against the local currency) have declined in the curb market. That’s why remittance is maintaining an upward trend.”
Saidur said the decision of Saudi Arabia, one of the most lucrative destinations for Bangladesh workers, to simplify change of work permits was also contributing to the rise in remittance.
Bangladeshis need not to pay any charge for change of work permit from November last year, he said.
According to the central bank statistics, Bangladesh received remittance worth $1.24 billion in July, $1.01 billion in August, $1.03 billion in September, $1.23 billion in October and $1.06 in November and $1.21 billion in December.
The highest-ever amount of remittance ($1.45 billion) in Bangladesh was registered in October, 2012 and second highest ($1.32 billion) in January, 2013.
The foreign exchange reserves at the central bank stood at $18.15 billion on Monday.
Saidur said the reserves were enough to meet six months’ import expenditure of the country.
The reserves first crossed the $18 billion-mark on Dec 19 and reached record $18.23 billion on Jan 7.
However, the reserves again went below $18 billion-mark following the payment of $760 million to the Asian Clearing Union (ACU) on Jan 8.
