Remittance continues to defy all expectations. It was supposed to take a massive hit due to the economic recession brought on by the global coronavirus pandemic, leaving one of the pillars of strength for the Bangladesh economy wobbling.
In reality, it is thriving.
After sending home a record $18.20 billion last fiscal year that ended on June 30, migrant workers sent in another $2.6 billion in July, which is a record for a single month.
July’s inflows were up 38.5 percent from a year earlier and 42.1 percent from the previous month, according to data from the Bangladesh Bank.