Remittance inflows to Bangladesh have witnessed a significant surge as expatriates send more money home to help their families cover the additional expenses of the holy month of Ramadan and the upcoming Eid-ul-Fitr. In the first 24 days of March, the country received over $3.05 billion (305 crore) in inward remittances.
Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan shared the data on Wednesday (March 25), highlighting a robust trend in the country’s foreign currency earnings.
Key Highlights of the Remittance Growth
The current inflow marks a notable increase compared to previous months and the same period last year. Here is a breakdown of the recent figures:
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Daily Average: The country received an average of approximately $127 million per day during this 24-day period.
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Total in BDT: At the current exchange rate of 123 BDT per USD, the 24-day inflow amounts to roughly 37,515 crore BDT.
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Year-on-Year Growth: This represents a 10.9% increase compared to the $2.75 billion received during the same period in March last year.
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Fiscal Year Progress: For the current 2025-26 fiscal year (July to March 24), total remittances have reached $25.04 billion, a 20.1% rise from the $22.38 billion recorded in the same period of the previous fiscal year.
Economic Impact and Expectations
Industry insiders attribute this “vibrancy” in remittance flow to the festive season. Expatriates typically increase their transfers during Ramadan to support family shopping, zakat, and holiday celebrations.
“The ongoing trend suggests that by the end of March, the country may see a record-breaking monthly total for remittance income,” stated a senior central bank official.
This surge is expected to provide a much-needed boost to the country’s foreign exchange reserves, helping to stabilize the macroeconomic environment and ease pressure on the balance of payments.
In February, remittance inflows were also strong, totaling $3.02 billion, which was a 19.5% increase over February of the previous year ($2.52 billion). Central bank officials remain optimistic that the continued use of formal banking channels by expatriates will maintain this upward trajectory for the remainder of the fiscal year.
