Sunday, 8 April 2007

Bangladesh's Remittances Cross $4.0 Billion Mark In Nine Months

April 6, 2007 7:51 a.m. EST

Siddique Islam - All Headline News South Asia Correspondent

Dhaka, Bangladesh (AHN) - The flow of inward remittances crossed the $4.0 billion mark in the first nine months of the current fiscal year, increasing by 25.53 percent from that of the corresponding period of the last fiscal year, officials said in the capital, Dhaka, on Thursday.

The remittance earnings in the period came as a continuation of last year's fiscal trends and record inflow of $4.8 billion. The growth in the 2005-06 period was 24.89 percent over the previous fiscal year.

However, the country's foreign exchange reserve stood at $4.23 billion on Thursday, thanks to robust growth in remittances from Bangladeshis working abroad.

According to provisional estimates from the Bangladesh Bank (BB), the country's central bank, Bangladesh received a total of $4.36 billion during the July-March period of the 2006-07 fiscal year against $3.47 billion of the corresponding period of the previous fiscal year. [Read more]

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