The gap in the flow of expatriate revenue has started to pick up again. In the first 10 days of this month, the expatriates have sent 69 crore dollars, which is about six thousand crore taka in Bangladeshi currency. If this continues, the expatriate revenue will exceed 200 crore dollars by the end of the month. In February, the expatriate revenue in the country came was 149 crore dollars.
The government used to give a 2% cash incentive to expatriate revenue sent through banking channels. The incentive rate has risen to 2.5% since 1 January. Expatriates sent a significant amount of remittances in January due to increased cash incentives. But in February it fell again. The revenue last month is the lowest in the previous 21 months.
In January, expatriates sent 170 crores and 44 lac dollars to the country, which is about Tk 14 thousand crores in Bangladeshi currency (86 taka per dollar). And in February, the expatriates sent 149 crores and 60 lac dollars of expatriate revenue to the country, which amounted to Tk 12 thousand 865 crores in Bangladeshi currency. Expatriate income has declined by more than Tk 1,000 crore in one month, though there are 28 days in February. Nevertheless, the rate of revenue decline is very high. Revenue has increased since the beginning of March. In the first 10 days of March, the revenue sent was 68 crores and 93 lac dollars, which the bankers see as positive.
