Dhaka, Bangladesh (BBN) - The flow of inward remittances dropped by nearly 25 per cent in July, the first month of the current fiscal year (FY) 2024-25 following a five-day internet blackout across the country.
The remittances from Bangladeshi nationals working abroad were estimated at $1.91 billion in July 2024, down by $633 million from the level of the previous month. In June last the remittances stood at $2.54 billion, according to the central bank statistics.
It was $1.97 billion in July 2023.
The Bangladesh Bank (BB) data showed that the inflow of remittances stood at $138 million from July 21 to July 27, the lowest among the four weeks of the month, following the internet outage, hindering banks from collecting much-needed foreign currencies to boost country's falling forex reserves.
On the last day of July, remitters sent $120 million, according to Bangladesh Bank Spokesperson Md Mezbaul Haque.
BBN/SSR/AD