Bangladeshi expatriates sent USD 1.93 billion (approx. Tk 23,583 crore) in remittances during the first 26 days of July, according to the latest data from Bangladesh Bank, released on Sunday (July 27). The calculation is based on an exchange rate of Tk 122 per US dollar.

If the current pace continues, total remittance inflows for the month are expected to exceed USD 2.3 billion, central bank officials projected.

Officials credit the steady growth to improvements in the banking system, attractive remittance incentives, and active efforts to curb illegal money transfers (hundi). They noted that remittances through formal banking channels are playing a vital role in supporting the country’s foreign currency reserves.

In June, remittance inflows stood at USD 2.82 billion—an 11% year-on-year increase.

The 2024–25 fiscal year also ended on a strong note, with total remittances reaching a record USD 30.33 billion—up nearly 27% from USD 23.74 billion in the previous fiscal year. This marks the highest annual remittance inflow in Bangladesh’s history.

The sustained increase in remittance has brought welcome relief to the economy, helping stabilize the dollar supply and strengthening the country’s external financial position.