Remittance inflow to Bangladesh grew by 7 percent year-on-year in October, although the growth slowed compared to previous months.
Expatriates sent home $2.56 billion during the month, up from $2.39 billion in the same period a year earlier, according to the latest data from Bangladesh Bank.
Bangladesh has been witnessing a growing trend in remittance inflows since December of last year due to multiple factors.
The factors include a narrowing gap between official and informal exchange rates, a crackdown on money laundering, and a renewed sense of patriotism among expatriates following last year's political changeover, industry insiders said.
However, October's inflow was 4.54 percent lower than the previous month.
In September, the remittance inflow stood at $2.68 billion.
Growth in October was also weaker compared to recent months: 12 percent in September, 9 percent in August, 30 percent in July, and 11 percent in June, data showed.
Officials of the central bank said the figure reflects sustainable growth, but if the country wants higher growth in remittance earnings, it will have to increase manpower exports.
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