Remittance rises in August, thanks to Eid

Posted by jaypee 136 days ago Bangladesh
http://www.thedailystar.net —

Remittance hit a 14-month high in August, mainly due to Eid-ul-Azha, in a development that may bring a sigh of relief for the government.

Last month migrant workers sent home $1.42 billion. The last time this high an amount was remitted was back in June last year, when $1.47 billion was sent. After that, the monthly remittance was $1-1.2 billion.

August's receipts are also an improvement of 20.34 percent from a year earlier and 26.79 percent from a month earlier, according to data from the Bangladesh Bank.

Expatriate Bangladeshis sent home more money because of Eid-ul-Azha and severe floods in many parts of the country, said a Bangladesh Bank official.