Reflecting the spirit of the holy month of Ramadan and the upcoming festivities of Eid-ul-Fitr, Bangladeshi expatriates are sending record amounts of money home to meet their families’ increased expenses. In the first 14 days of March, remittance inflows have already crossed the $2.20 billion mark.
Arif Hossain Khan, Executive Director and Spokesperson of Bangladesh Bank, shared the data on Sunday (March 15).
Impact of Festive Spending
Financial sector insiders attribute this surge to the tradition of expatriates sending extra funds during Ramadan to help their relatives with Eid shopping and holiday costs. This vibrant inflow is providing a much-needed boost to the country’s foreign exchange reserves.
According to the latest central bank data, the $2.20 billion received in the first half of March translates to over 27,121 crore BDT (calculated at the current exchange rate of 123 BDT per USD). Central bank officials are optimistic that if this trend continues, the month will conclude with a historic record for monthly remittance earnings.
Comparative Growth and Fiscal Trends
The current momentum follows a strong performance in February, where expatriates sent $3.02 billion (approx. 37,000 crore BDT). This represented a 19.5% increase compared to February of the previous year, which saw $2.52 billion in inflows.
Fiscal Year 2025-26 Performance (July 1 – March 14):
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Current Fiscal Year: $26.58 Billion
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Previous Fiscal Year (Same Period): $20.11 Billion
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Growth Rate: 22.66% increase year-over-year.
Economic Outlook
The steady rise in remittance is viewed as a cornerstone for Bangladesh’s macroeconomic stability. As the country navigates global economic shifts, the contribution of “remittance warriors” remains vital for maintaining the strength of the national currency and supporting millions of households during the festive season.
