Bangladesh received remittances totalling $655 million in the first nine days of November, according to the latest report of the Bangladesh Bank.

This amounts to an average daily inflow of around Tk 72.8 million in foreign remittances.

The central bank’s report revealed that the remittance inflow for the same period in October was $739.8 million, indicating a decrease in this November’s remittance figures.

In terms of distribution among banks, state-owned banks accounted for $199.75 million of the remittances.

Private banks managed the highest share, facilitating $421.94 million in remittances, while specialised banks contributed $31.56 million, and foreign banks handled $1.75 million.

Its further breakdown shows that between 3rd and 9th November, a total of $612.58 million was remitted to Bangladesh, while from 1st to 3rd November, expatriates sent $42.41 million.

Bangladesh received $2.5386 billion in remittances in June.

The inflow, however, dropped significantly in July, the first month of the current fiscal year, with remittances totalling nearly $1.91 billion – the lowest in the past 10 months.

Significant rise in remittance inflow as Oct records over $2.39 bn

The trend began to stabilise with the formation of an interim government, and remittances rebounded in August, reaching $2.2213 billion.

In September, remittance inflows reached a fiscal year high of $2.4048 billion, followed by a slight decline in October, which saw $2.3951 billion in total remittances.