The rising trend of remittance remained in February this year thanks to the depreciation of the taka against the dollar and various initiatives taken by the Bangladesh Bank (BB).

The Bangladeshi migrant workers remitted US$1130.90 million, up by 14.58 percent than that of the same month of last year. In February 2011, the remittance was US$986.97 million, according to the central bank statistics.

“Higher manpower export, increase of overseas exchange houses of commercial banks, simplifying the process of opening foreign currency account and making the foreign currency exchange policy flexible contributed to boost the inflow of remittance,” a BB press release signed by AFM Asaduzzaman, General Managing of BB, said. However, remittance narrowly declined compared to the previous month. Over US$1.21 billion was remitted in January this year by the overseas Bangladeshi workforce that is the highest ever monthly inflow.

The Daily Sun/Bangladesh/ 5th March 2012