Bangladesh’s monthly inward remittances for the first time are likely to cross $3 billion mark in March as the inflow already hit $2.75 in 24 days, according to Bangladesh Bank data.
In December 2024, expatriates sent remittances worth $2.64 billion to the country, marking the highest amount ever sent in a single month. Prior to this, in July 2020, a record remittance of $2.6 billion was recorded.
Central bank officials stated that the current government has taken a firm stance against money laundering, leading to a decrease in the use of illegal channels such as hundi for transferring money.
As a result, the amount of remittance sent through legal channels has increased. Additionally, the ongoing holy month of Ramadan and the upcoming joyous occasion of Eid have led to increased shopping. With families preparing for additional expenses, expatriates have been sending more money home. These factors have contributed to the record-breaking remittance inflows.
Meanwhile, due to the significant growth in remittances, the foreign exchange reserves have surpassed $20 billion. On the other hand, the exchange rate of the US dollar against taka has remained stable at Tk122 for several months.
From July 2024 to March 24, 2025, expatriates sent a total of $21.24 billion in remittances, marking an increase of 27.7% compared to the previous year. During the same period last year, remittances amounted to $16.62 billion.
In the first month of the 2024-25 fiscal year, July, expatriates sent $1.91 billion, followed by $2.22 billion in August, $2.40 billion in September, $2.39 billion in October, $2.20 billion in November, $2.64 billion in December, $2.19 billion in January, and $2.53 billion in February.
Remittance Based on Fiscal Year
According to data from the central bank, in the first six months of the 2024-25 fiscal year (July-November), the country received remittances totaling $13.55 billion. In the 2023-24 fiscal year, the total remittance amounted to $23.91 billion.
In the previous 2022-23 fiscal year, remittances stood at $21.61 billion, while expatriates sent $21.03 billion in 2021-22 and $24.77 billion in 2020-21.
Additionally, in the 2019-20 fiscal year, expatriates sent $18.20 billion, while in 2018-19, the figure was $16.31 billion. In the 2017-18 fiscal year, remittances amounted to $14.98 billion, and in 2016-17, it was $12.77 billion.
In the 2015-16 fiscal year, the total was $14.93 billion, and in 2014-15, expatriates sent $15.32 billion in remittances.
Remittance Based on Calendar Year
In 2024, the remittance received was $26.89 billion. In 2023, expatriates sent $21.92 billion, while in 2022, the figure was $21.27 billion. In 2021, expatriates sent a record $22.08 billion in remittances.
On the other hand, in 2020, remittances amounted to $21.74 billion. In 2019, the total was $18.33 billion, while in 2018, it was $15.54 billion. In 2017, remittances stood at $13.53 billion, in 2016 at $13.61 billion, and in 2015, the total was $15.31 billion.