Bangladesh's remittances hit record high in FY 2019-20

Source: Xinhua | 2020-07-07

Bangladesh's remittances hit an all-time high of 18.20 billion U.S. dollars in the immediate past 2019-20 fiscal year, a central bank official said Monday.

Quoting provisional data, the Bangladesh Bank (BB) official told Xinhua that the remittances surged 10.87 percent year on year to 18,204.38 million U.S. dollars in 2019-20 fiscal year (July 2019-June 2020) with last month's hefty inflows.

Bangladeshi expatriates sent home 1.83 billion U.S. dollars in June, the final month of the 2019-20 fiscal year, said the official who did not like to be named.

This amount is up by 33.90 percent from 1.37 billion U.S. dollars received in the same month of the 2018-19 fiscal year, he added.

Bangladeshis in the 2018-19 fiscal year remitted home 16.41 billion U.S. dollars, previous highest remittances in a single year, the BB data showed.