Remittance rises 21% in October

Remittances sent home by Bangladeshis living abroad rose 21.31 percent year-on-year to $2.39 billion in October.
However, October’s inflow is 0.41 percent lower than September’s.
During the July to October period of this fiscal year, remittance earning stood at $8.93 billion, up from $6.87 billion at the same period of last fiscal year, central bank data showed.
Industry insiders said the upward trend of remittance inflow will create a breathing space and reduce pressure on foreign exchange reserves.
Since April of this year, Bangladeshi expatriates sent remittances above $2 billion in every month except July.
Remittance inflow slumped in July as expatriates were unable to send funds in the middle of the month as the Sheikh Hasina-led government imposed an internet blackout to quell protests centring demands for quota reform in government jobs.