B Mirror Report: The nation has received $30.04 billion in foreign earnings as of Sunday. This indicates that during this time, $304 million has entered the nation. In all of the nation’s fiscal years, this amount of money has never been received. The amount of expatriate income over the same time period of the previous fiscal year was $23.74 billion. Consequently, the current fiscal year saw a 26.5 percent growth in expatriate revenue. This information was made public by Bangladesh Bank today, Sunday.

Previously, the highest expatriate income came to the country in the 2020-21 fiscal year. In that fiscal year, remittances came in at $24.77 billion. And the latest was in the 2023-24 fiscal year, where $23.91 billion came.

Earlier, in May, expatriate Bangladeshis sent $2.97 billion in expatriate income to the country, which is 31.7 percent more than the same period last year. In March, during the Eid al-Fitr holiday, expatriates sent $3.29 billion in expatriate income to the country. Although it decreased to $2.75 billion in the next month, April, however, the strong growth trend in expatriate income continues overall.

Meanwhile, the dollar market has become stable due to the increase in expatriate income. The foreign exchange reserves, which are the result of loans from the International Monetary Fund (IMF), the World Bank, and the Asian Development Bank (ADB), have exceeded $31 billion. On Sunday, the reserves were $31.31 billion. According to the IMF’s accounting method BPM 6, the reserves are $26.32 billion.

Banking sector officials say that the strong growth in expatriate income has had a positive impact on the country’s foreign exchange reserves. This has reduced the pressure on the dollar. The government’s strict measures against illegal remittances and various incentives to encourage expatriate income to be sent legally are playing a major role in the growth of expatriate income.