Record Remittance Flow in November: $2.8895 Billion

Staff Report: PNN

In November, remittances to Bangladesh reached $2.8895 billion, the highest in any month of the current fiscal year, according to an updated report released by Bangladesh Bank on Monday (December 1).

The report detailed remittances by banking sector:

• State-owned banks: $587.76 million

• Specialized banks: $298.95 million

• Private banks: $1.99687 billion

• Foreign banks: $5.94 million

For comparison, remittances were $2.56348 billion in October and $2.68588 billion in September. In July and August, they were $2.478 billion and $2.42189 billion, respectively.

Industry experts noted that a narrowing gap between official and unofficial (Hundi) exchange rates, along with strict anti-money laundering measures, has contributed to an increase in the volume and stability of remittance inflows.