At a time when political and economic reforms are underway in the country, remittances reached $222.13 crore in August, which is $307.6 million more than in July. The expatriates have sent this remittance to strengthen the country’s reserve through their hard work and love. Economists see the rise in foreign currency in August as a good sign for the coming days.
Despite the adverse situation, this improvement in the flow of remittances in August is a positive indication. Usually, the amount of remittance decreases after Eid, but this time it did not. Due to the move away from the policy of capping the price of the dollar, the flow of remittances through legal channels is increasing. Economists are advising the dollar rate to be more market-oriented if necessary to increase the supply of foreign currency.
According to Bangladesh Bank statistics, more than $2 billion remittance came in the last three months of the last fiscal year. However, in July, the first month of the current fiscal year, it dropped to 151 crore 38 lakh dollars. There was some uncertainty among expatriates due to the anti-discrimination student movement in July, which affected the flow of remittances. However, in August, the situation became somewhat normal, which led to the increase in remittances again.
