Internet outage spurs 3.2pc fall in July remittance

Remittance inflow in the country declined 3.2 per cent to $1.91 billion in July compared to the same period last year.

In July last year, remittance receipts were $1.97 billion, according to the Bangladesh Bank spokesperson Mezbaul Haque

Remittance inflows and import LC openings declined over the past week as banks could not collect the money sent home by the migrant workers because of a five-day internet blackout across the country, and a three-day bank closure.

Central bank data showed that the inflow of remittances stood at $138 million from July 21 to July 27, the lowest among the four weeks of the month, following the internet outage.

On the last day of July, remitters sent $120 million, the spokesperson said.