Bangladesh receives 7.48 bln USD remittances in 1st half of FY 2015-16

Bangladesh in the first half of the current fiscal year 2015-16 ending in June received 7.48 billion U.S. dollars in remittances from its millions of expatriate workers, a central bank official said Tuesday.

The Bangladesh Bank (BB) official who preferred to be unnamed said some 10 million Bangladeshis, living and working abroad, in the first half of the current fiscal year remitted home 7.48 billion U.S. dollars, a little less than what they sent in the same period in the previous financial year.

In July-December period of the previous 2014-15 fiscal year (July 2014-June 2015), non resident Bangladeshis sent home 7.49 billion U.S. dollars.

According to the BB official, overseas Bangladeshis in December sent home 1.31 billion U.S. dollars, 2.57 percent more than December, 2014.

The inflow remittances, one of the key sources of foreign exchange for the nation, from non-resident Bangladeshis in the 2014-15 fiscal year which concluded in June reached a record high of 15.3 billion U.S. dollars, the BB data showed.

Most of the remittances come from Saudi Arabia, the United Arab Emirates, the United States, Kuwait, Britain, Malaysia, Oman, Qatar, Singapore, Bahrain, Italy and Australia, according to the bank. Endit