Remittance jumps 31% in November

Remittance inflow to Bangladesh grew by 31.34 percent year-on-year to $2.88 billion in November, the highest in the last six months.

Expatriates sent home $2.19 billion in the same month the previous year, according to the latest data from the Bangladesh Bank.

November's figure is also 13 percent higher than that of the previous month.

In October, the remittance inflow was $2.56 billion.

Bangladesh has been witnessing a growing trend in remittance inflows since December of last year due to multiple factors.

These factors include a narrowing gap between official and informal exchange rates and a crackdown on money laundering, industry insiders said.

During July to November of this fiscal year, remittance inflow stood at $13.03 billion, up from $11.13 billion in the same period of the last fiscal year, the data showed.