The dollar is at its highest since November against other major currencies, poised for a fourth straight month of gains
Remittance rises 20% in March
Remittance inflow stood at $1.3 billion in March, an increase of about 20 percent compared to the same period a year earlier.
Published : 2 April 2018, 11:51 AM
Updated : 2 April 2018, 11:51 AM
Analysts attributed the remittance growth to a hike in global fuel oil prices and fund transfer through legal channels.
In the first nine months (July-March) of the current fiscal year, expatriates sent about $10.76 billion. The amount is expected to reach $15 billion by the end of this fiscal year.
The remittance growth has also boosted foreign reserves that rose 17 percent during the period.
A rise in global oil prices, the stronger dollar against the taka and the central bank’s steps to encourage expatriates to remit funds through legal channels are the reasons for the higher remittance inflow.
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