Thursday, 9 September 2010

BANGLADESH: Bangladesh remittances up 2.4% to $957.9mn

Bangladesh received $957.9mn in remittances from workers overseas in August, up 2.4% from a year earlier, central bank data shows.

The income from more than 6mn workers overseas, a key source of foreign exchange for the cash-starved economy, hit $10.97bn in the 2009/10 fiscal year that ended in June, 13% above the previous year. The central bank expects remittances to reach $14bn this fiscal year as the global economy recovers from the downturn, although the number of Bangladeshis leaving for overseas jobs has decreased. Bangladesh sent 202,000 workers abroad during the first half of 2010, the lowest in four years, government figures show. Source

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