Remittance slumps in Oct
Remittance dropped almost 18 percent year-on-year last month, as week-long bank holiday for Eid-Ul-Azha and Durga Puja put a pause on inflows.
In October, $1.01 billion was sent in to the country by expatriates, according to data from Bangladesh Bank.
But Kazi Saidur Rahman, a general manager of BB, said the bank holiday is excluded, the average inflow is more or less the same as in previous months.
Another reason for the comparative decline in inflows from a year ago was that Eid remittance took place during October last year, which bumped up the figure anyway, he said. This year, Eid remittance came in September, which saw inflows of $1.34 billion.
Meanwhile, October's inflow took fiscal 2014-15's total to $5.02 billion, up 11.56 percent year-on-year.
Foreign currency reserves stood at a record $22.36 billion yesterday.
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