Remittance Inflow Hits $2.35 Billion in First 27 Days of September

In the first 27 days of September, Bangladeshi expatriates sent USD 2.352 billion (equivalent to BDT 28,572 crore at an exchange rate of BDT 122 per USD) back to Bangladesh, according to the latest report from Bangladesh Bank released on Sunday, 28 September.

Monthly Remittance Overview

Officials from Bangladesh Bank noted that remittances sent through formal banking channels have provided stability to the country’s foreign currency reserves. The positive trend is attributed to:

• Government initiatives to curb informal channels such as hundi,
• Incentives for expatriates, and
• Improvements in banking infrastructure facilitating smoother remittance flows.

The trend of rising expatriate income continued in the 2024–25 fiscal year, which witnessed a record inflow of USD 30.33 billion, marking an approximate 27% increase compared to the previous fiscal year.

The 2023–24 fiscal year had previously set the highest-ever remittance record for a single fiscal year at USD 23.74 billion.

This continuous rise in expatriate remittances has brought:

• Stability to Bangladesh’s economy,
• Increased confidence in the availability of foreign currency, and
• Support for the nation’s foreign exchange reserves.

The ongoing inflow of remittances is expected to strengthen the economy further while providing relief in the domestic currency market.