Business
Bangladeshis, Indians send Rs1.58billion back home
Foreign workers transferred Rs 2.06 billion out of Mauritius in the first quarter of 2021 against Rs 2.01 billion for the same period last year, according to a report from the Bank of Mauritius.
Some 76.9% of the amount were transferred to the two top destination countries, Bangladesh (Rs853 million or 41.4%) and India (Rs730 million or 35.5%). The French were third with Rs 80 million.
Conversely, Mauritians sent Rs 616 million on Q1: 2021, a drop of Rs 126 million over one year. The bulk of remittances inflows originated from the two main source countries, France with Rs178 million (or 28.9%) and United Kingdom with Rs80 million (or 13%). Mauritians sent Rs 37 million from Kenya.
The overall average charge for inward workers’ remittances, based on the amount transferred, stood at 0.03% in 2021Q1.
The average commission charged by domestic banks and foreign exchange dealers in 2021Q1 amounted to 0.7% of the total amount remitted.