The flow of remittance to Bangladesh shrank further in October as money transfers through informal channels such as hundi might have returned with the ease of pandemic restrictions. Expatriate Bangladeshis sent $1.65 billion in October, down 4.6 per cent from one month earlier and 21.7 per cent year-on-year, according to data from Bangladesh Bank.

Remittance fell to a 16-month low of $1.72 billion in September, as money transfers through informal channels such as “hundi” might have increased.

Remittance inflow has declined by 8 per cent year-on-year to $1.8 billion in August, lowest in six months due to money transfer through informal channels termed like hundi, increased, bankers said.

Finance Minister AHM Mustafa Kamal has criticised the Centre for Policy Dialogue’s recommendation to increase government monitoring on inbound remittances worth over $5,000.

Remittance hit the lowest in five months due to post Eid hangover and lesser working days in the banking sector than a usual month.

The country’s foreign exchange reserve has hit a new record of $46 billion due to the upward trend of remittance and lower import payments.

Bangladesh became one of the three large remittance-recipient countries that registered a rise in inward remittance last year, according to a new report of the Economist Intelligence Unit.

Bringing allegations of “gross misconduct” and “violating constitutional oath” against Chief Justice SK Sinha, a Supreme Court judge has written to the president for his impeachment.

The country received $1.387 billion remittance in July.

In the just concluded fiscal year, migrant workers sent home $15.31 billion in remittance, the highest in the country's history.