Remittance hits five-month low of $1.87 billion
Remittance hit the lowest in five months due to post Eid hangover and lesser working days in the banking sector than a usual month.
The inflow stood at $1.87 billion, down 28 per cent year-on-year and 4 per cent a month ago, according to data from the Bangladesh Bank.
In February, the Bangladeshi diaspora sent remittance worth $1.78 billion, after which the inflow hovered between $1.9 billion and $2 billion before last month
Officials of the Bangladesh Bank said that the remittance usually faced a sluggish trend after Eid, which is which the inflow had decreased sharply in the last week of July.
The country celebrated Eid-ul-Azha, the largest religious festival for Muslims, on July 21.
In addition, the last month also faced lower working days due to the lockdown, banking holidays and festival-related vacations.