Remittance inflows soared 39 percent in February to $2.16 billion, the highest in eight months, as expatriate Bangladeshis took advantage of the higher dollar rate offered by some banks.

Some banks are seeing extraordinary growth in remittance inflows thanks to offering at least Tk 4 more than the permitted rate per dollar.

Migrant workers sent home $1.98 billion in October, a four-month high, as banks stepped up efforts to woo more remittance buoyed by a relaxed central bank rule on incentive, a development that is expected to give some relief to a country reeling under the foreign exchange crisis.

The strain on dollar stockpile intensified last month after remittance inflows crashed to a 41-month low and export receipts missed target.

$1.34 billion came in September, lowest since April of 2020

Beneficiaries of wage earner remitters receive a 2.50 percent cash incentive on top of the market-determined exchange rate for any amount of remittance inflow.

Time to rethink our fixed exchange rate policy.

It came down to $1.59 billion from last year August's $2.03 billion

Migrant workers sent home $1.68 billion in October