In the first 8 days, expatriate income was 590 million dollars

In the first 8 days of this month of September, the income of expatriates in the country reached 59 million 59 million dollars. This figure was found in a report of the Statistics Department of the Central Bank.

Out of 59 crores, more than 500 crores of expatriate income came through private commercial banks. Recently, more expatriate income has been observed through private banks than government banks. In these 8 days, the expatriate income through the state-owned commercial and specialized banks is about 9 million dollars.

Last August, the expatriate income in the country was 203 million 78 million US dollars. Before that, in July came 209.63 million dollars. A large amount of expatriate income came to the country due to the holy Eid-ul-Azha in July. There were no major festivals in the country during the month of August, despite the fact that the inflow of expatriate income exceeded $2 billion during that period.

August was also one of the three months in the first eight months of this year when the inflow of expatriate income exceeded $2 billion. Apart from this, expatriate income of more than 2 billion dollars came in last April and July. According to central bank data, suddenly many private sector banks are bringing in more expatriate income than public sector banks. Because these banks are buying dollars from abroad at high prices. Expatriates are also approaching these banks.

Remittance of any amount of income from abroad no longer requires documents to overcome the dollar-crisis. Again, two and a half percent incentive is being given on expatriate income. According to Bangladesh Bank, expatriates are getting more than Tk 100 for every dollar even if the dollar is priced at Tk 95.

Expatriate income fell sharply in FY 2021-22 despite incentives and dollar appreciation. In the outgoing fiscal year, expatriate Bangladeshis remitted $2,103 million legally, which is 15 percent less than the previous fiscal year.

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