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Home Bangladesh

In 2020 remittance hit an all-time high of $21.74 billion

by Shomporko
February 1, 2021
in Bangladesh, Uncategorized
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In 2020 remittance hit an all-time high of $21.74 billion
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Remittance hit an all-time high of $21.74 billion in 2020 as migrant workers continued to send home a massive amount of money using formal channels.

In 2020 the inflow posted a magnificent growth of 18.59 percent compared to the previous year, data from the central bank showed.

Migrant workers remitted $2.05 billion in December, meaning that the inflow crossed the $2-billion mark for the fourth straight month.

The country’s foreign exchange reserve has already surpassed $43 billion riding on the upward trend of remittance, a development that will help the government use the foreign exchange reserve on rainy days.

Photo credit: Collected

News source: The Daily Star

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