Business Reporter :
The country has received $11,258.31 million remittance during the first eight months of the current fiscal 2014-15 as against $10,495.20 million in the last fiscal, according to the latest data of Foreign Exchange Policy Department (LDA) of Bangladesh Bank.
Remittance inflow in the country increased by 7.27percent during the first eight months (July to March) of the current fiscal 2014-15 comparing with the same period of the last fiscal.
Country received $14,228.31 million remittance in the FY 2013-14 while it was $14,461.14 and $ 2,843.43 million in FY 2012-13 and 2011-12 respectively.
Stable exchange rate of the local currency against US dollar is one of the main drivers for the increased remittance inflow in the country, said Bangladesh Bank Deputy Governor Nazneen Sultana.
Bangladesh Bank Executive Director M Mahfuzur Rahman said remittance inflow in the country is expected to see a record rise this year in the wake of recent reopening of labour market by Saudi Arabia and global economic recovery.
With a few exceptions, manpower export has been showing increasing trend year by year, said he and added that most of the expatriates, who are largely unskilled, are working in the Middle East and in UK and USA.
The BB executive director suggested for sending more skilled manpower abroad with a view to increase remittance flow in the country.
Economist M Mamun-Ur-Rashid suggested for investing hard-earned foreign currencies by Non Resident Bangladeshis (NRBs) to productive sectors for boosting economy.
Remittances are being used for purchasing flats and lands, which are not helping the country’s economy, he claimed. “We want to see the hard-earned money of the expatriate Bangladeshis invested in the productive sectors like to set up industry, mills etc”, the economist opined.
The country has received $11,258.31 million remittance during the first eight months of the current fiscal 2014-15 as against $10,495.20 million in the last fiscal, according to the latest data of Foreign Exchange Policy Department (LDA) of Bangladesh Bank.
Remittance inflow in the country increased by 7.27percent during the first eight months (July to March) of the current fiscal 2014-15 comparing with the same period of the last fiscal.
Country received $14,228.31 million remittance in the FY 2013-14 while it was $14,461.14 and $ 2,843.43 million in FY 2012-13 and 2011-12 respectively.
Stable exchange rate of the local currency against US dollar is one of the main drivers for the increased remittance inflow in the country, said Bangladesh Bank Deputy Governor Nazneen Sultana.
Bangladesh Bank Executive Director M Mahfuzur Rahman said remittance inflow in the country is expected to see a record rise this year in the wake of recent reopening of labour market by Saudi Arabia and global economic recovery.
With a few exceptions, manpower export has been showing increasing trend year by year, said he and added that most of the expatriates, who are largely unskilled, are working in the Middle East and in UK and USA.
The BB executive director suggested for sending more skilled manpower abroad with a view to increase remittance flow in the country.
Economist M Mamun-Ur-Rashid suggested for investing hard-earned foreign currencies by Non Resident Bangladeshis (NRBs) to productive sectors for boosting economy.
Remittances are being used for purchasing flats and lands, which are not helping the country’s economy, he claimed. “We want to see the hard-earned money of the expatriate Bangladeshis invested in the productive sectors like to set up industry, mills etc”, the economist opined.
