Jul-Dec remittances soar to record $12.94 billion

Dhaka (Jan 03, 2021): Inflow of remittances crossed $2 billion-mark for the third consecutive months in December despite the impact of the ongoing coronavirus pandemic, according to Bangladesh Bank data released on Sunday afternoon.

As a result, remittances reached nearly $13 billion in the first six months of fiscal year 2020-21, up 37.60 percent from $9.4 billion for the same period a year ago.

BB data shows Bangladeshi expatriates sent home $2.05 billion in December, slightly down from $2.08 billion in November.

In October, inward remittances stood at $2.11 billion.

Central bankers said if the trend continues Bangladesh will receive over $24 billion in remittances in this fiscal year ending on June 30, 2021.

Bangladesh government has been providing 2 percent cash incentive against inward remittance receipts.