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Journalism of Courage
Bangladesh received $1.17 billion in remittances from expatriates in September,up 37 percent from a year earlier,but slightly down from $1.178 billion in August,central bank data showed on Tuesday.
Remittances rose 10 percent to $12.84 billion in the financial year that ended in June from a year earlier.
Remittances in the first quarter of the current financial year rose nearly 20 percent to $3.55 billion.
After more than a month the central bank has started again draining dollars from the financial system to temper a rising local currency to encourage expats to send more money home and to protect exports,a central bank official said.
Remittances from about eight million citizens are critical for impoverished Bangladesh and are key sources of foreign exchange alongside garments which account for 80 percent of its total export earnings of around $24 billion a year.
