Bangladesh receives $774M in remittance in first 12 days of May
Expatriates have sent $774 million to the country through the banking channel in the first 12 days of May.
Majority of the earnings came through the country's 43 private banks, amounting to $622 million.
The state-owned banks brought in $148 million followed by around $3 million through foreign banks.
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Earlier, within the first 14 days of April, the country received $959 million in remittance and $1.68 billion over the entire month. The earnings were comparatively low given the celebration of Eid-ul-Fitr in April.
Bank insiders blamed the low exchange rate of the dollar for the poor remittance.
The country received over $2 billion the month prior.
Banks now offer Tk108 per dollar as per the latest decision of the Association of Bankers Bangladesh (ABB) and the Bangladesh Foreign Exchange Dealers' Association (BAFEDA).
