Bangladesh’s Q1 remittances reach $4 bn

Dhaka, Oct 7 (IANS) Bangladeshis living and working abroad remitted home nearly $4 billion in the first quarter of the current 2015-2016 fiscal year, a central bank official said on Wednesday.

Quoting provisional data, the Bangladesh Bank (BB) official said the flow of inward remittances in the first three months of the current fiscal year (July 2015-June 2016) fell two percent to $3,930.86 million, Xinhua reported.

After $1,389.56 million in July and $1,195.02 million in August, the amount of remittance in the last month stood at $1,346.28 million, down 0.15 percent than that of the same period a year earlier, said the official.

The inflow remittances, one of the key sources of foreign exchange for the impoverished nation, from nearly nine million Bangladeshis in the 2014-2015 fiscal year which concluded in June reached a record high of $15.3 billion, the BB data showed.

Most of the remittances come from Saudi Arabia, the UAE, the US, Kuwait, Britain, Malaysia, Oman, Qatar, Singapore, Bahrain, Italy and Australia, according to the bank.

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