Remittance inflows to Bangladesh have risen sharply ahead of the holy festival of Eid-ul-Azha, as expatriate Bangladeshis continue sending increased amounts of money home to support their families during the festive season.
According to the latest data released by Bangladesh Bank, the country received $2.976 billion in remittances through formal banking channels during the first 23 days of May.
In local currency terms, the inflow amounts to approximately Tk36,530 crore, calculated at an exchange rate of Tk122.75 per US dollar. This means Bangladesh received an average of more than Tk1,588 crore in remittances every day during the period.
The updated report was published by the central bank on Sunday.
Bangladesh Bank data also showed that total remittance inflows during the July 2025 to May 23 period of the 2025–26 fiscal year reached $32.309 billion. During the same period in the previous fiscal year, remittance earnings stood at $26.643 billion.
Central bank officials said government and Bangladesh Bank initiatives to curb hundi transactions, along with cash incentives and improvements in formal banking channels, played a major role in boosting remittance inflows.
Officials also expressed optimism that remittance earnings could hit a new monthly record in May as expatriates continue sending additional funds ahead of Eid-ul-Azha.
According to monthly statistics from Bangladesh Bank, remittance inflows stood at $2.477 billion in July, $2.421 billion in August, $2.685 billion in September, $2.562 billion in October, and $2.889 billion in November. The country received $3.223 billion in December, followed by $3.171 billion in January, $3.02 billion in February, $3.752 billion in March, and $3.127 billion in April.
Economists and banking sector insiders believe that if the current trend continues, Bangladesh could set a new remittance record by the end of May. A sustained rise in remittance inflows is expected to strengthen the country’s foreign exchange reserves and positively impact the overall economy.
The holy Eid-ul-Azha will be celebrated in Bangladesh on May 28 this year. Sunday marked the final working day for government and private offices, banks, and many institutions before the start of the seven-day Eid holiday.
