Remittance Inflow Surges to $2.86 Billion in July

DHAKA — Remittance inflows into Bangladesh via formal banking channels reached an impressive USD 2.86 billion (USD 2.859 billion) in July, the opening month of the 2026–27 fiscal year. In terms of local currency, the incoming volume translates to approximately BDT 354 billion (BDT 35,400 crore), calculated at an average exchange rate of BDT 123.83 per US dollar.

The latest economic report released by Bangladesh Bank on Sunday demonstrates a strong start to the new fiscal year, registering a robust 15.4 per cent year-on-year growth compared to the USD 2.478 billion received during July of the previous year. The sustained upward trajectory reflects steady momentum in foreign earnings transferred home by non-resident Bangladeshis across the globe.

The July figure also marks a sequential increase over June, the closing month of the preceding fiscal year, when migrant workers sent back USD 2.82 billion through banking networks.

This performance follows a historic year for foreign exchange earnings in Bangladesh. Official central bank statistics confirm that total remittance receipts via formal channels reached an all-time high of USD 35.59 billion during the 2025–26 fiscal year (July–June). This represented a significant surge of USD 5.26 billion—or 17.3 per cent—over the USD 30.33 billion recorded in FY 2024–25. The overall total for FY 2025–26 stands as the highest annual remittance volume recorded in the country’s history.

Central bank officials attribute the continuous expansion of remittance flows to proactive policy measures implemented by the government and Bangladesh Bank. Primary drivers include stringent law enforcement crackdowns against illegal hundi money-transfer syndicates, the provision of government cash incentives, simplified digital remittance services, and expanded banking access for Bangladeshi expatriates. Financial analysts highlight that the steady inflow of foreign currency provides critical stability to Bangladesh’s balance of payments, strengthens foreign exchange reserves, and eases dollar supply pressures for essential import obligations.