Remittance, reserve hit new record in October ’12

Dhaka, Oct 31 (bdnews24.com)

Bangladeshi expats have gone on to set yet another record of sending remittance back home.

They remitted $1.3318 billion from Oct 1 to Oct 26, the most for a month.

মাস না ফুরোতেই রেমিটেন্সে রেকর্ড

Remittance to Bangladesh amounted $1.2214 billion in January, the highest in history.

In October last year, the country received $1.0394 billion in remittance.

Meanwhile, the Bangladesh Bank’s reserve of foreign exchange has been inflated further by the remittance inflow.

The reserve bulged to $12.32 billion on Wednesday, a record high.

Governor Atiur Rahman sounded happy about the uptick in both reserve and remittance.

“The expatriates remitted more to their families ahead of the Eid-ul-Azha.”

The drop in import cost also played a role, he added.

The expatriates remitted more than $ 1 billion in the first 19 days of October, pushing the foreign exchange reserve to cross the $12 billion mark on Oct 18.

According to the central bank, the first three months (July-September) of the current fiscal year saw expatriates remitting $3.5517 billion, nearly 20 percent more than $2.9687 billion they had in the same period last fiscal year.