Dhaka, Bangladesh (AHN) - Remittances sent by Bangladeshis working abroad reached $1.0 billion USD in the first two months of the current fiscal year, up 18.86 percent from a year ago.
Bangladeshis received $1.05 billion from July to August, up from $884 million last year, according to estimates from the central bank of Bangladesh.
"We are hopeful about a rise in the flow of inward remittances in the month of September due to the Holy Ramadan as well as Eid-ul-Fitre festival," a senior official with the Bangladesh Bank (BB) told AHN in Dhaka.
The country's foreign exchange reserve stood at $5.24 billion USD on Wednesday, thanks to a robust growth of remittances from the expatriate Bangladeshis, another BB official added.
The central bank earlier took a series of measures to encourage the expatriate Bangladeshis to send their money through formal banking channels instead of the illegal "hundi" system.
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