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Bangladesh's Q1 remittances reach nearly $4 billion

Staff writer ▼ | October 8, 2015
Bangladeshis living and working abroad remitted home nearly 4 billion U.S. dollars in the first quarter of the current 2015-2016 fiscal year, a central bank official said.
Bangladesh Bank
Remittances   One of the key sources of foreign exchange
Quoting provisional data, the Bangladesh Bank (BB) official told Xinhua that the flow of inward remittances in the first three months of the current fiscal year (July 2015-June 2016) fell 2 percent to $3,930.86 million.

After $1,389.56 dollars 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 who preferred to be unnamed.

The inflow remittances, one of the key sources of foreign exchange for the impoverished nation, from nearly 9 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 United Arab Emirates, the United States, Kuwait, Britain, Malaysia, Oman, Qatar, Singapore, Bahrain, Italy and Australia, according to the bank.