In a widely expected decision, the BOJ ditched a policy put in place since 2016 that applied a 0.1% charge on some excess reserves financial institutions parked with the central bank
They sent back $2.6 billion in inward remittances in the first month of the new fiscal year, a new monthly record.
It marks a 42 percent increase from the previous monthly record of $1.83 billion set in June.
"This is truly incredible. The pandemic has once again proved that expatriates are the driving force of our economy."