Bangladesh’s remittance inflow shines bright with $2.27bn in April’s 26 days
Published: 28 April 2025, 10:09:24
In a remarkable display of ongoing financial support from Bangladesh’s expatriates, the country has received $2.27 billion in remittances within just the first 26 days of April 2025.
The flow of remittances continues strong even after the Eid celebrations, underscoring the crucial role of overseas workers in sustaining the nation’s economy, reports UNB.
Before Eid, expatriates had already sent a record-breaking $3.29 billion in remittances, reflecting both the festive season’s influence and the increasing trend of Bangladeshi workers sending money home.
According to the latest report from Bangladesh Bank, the inflow of remittances for the first 26 days of April comprises $853.8 million through state-owned banks, $119.4 million through a specialised bank, $1.29 billion via private banks, and $427 million through foreign banks.
The consistent flow of remittances has played a pivotal role in stabilising the country’s foreign exchange reserves, taking the country’s Forex reserves to around $27 billion, a figure considered to be impactful on the nation’s financial health.
In the first nine months of the current fiscal year (FY2024-25), Bangladesh has already received a total of $21.77 billion in remittances, a significant increase compared to the $17.07 billion remitted during the same period last fiscal year (FY2023-24).
The trend indicates that remittances continue to be a key driver for the country’s foreign currency reserves.
Looking at the trends from earlier in the year, remittances have been consistent.
In March, expatriates sent $3.29 billion, while February saw $2.53 billion, and January had $2.19 billion.
The previous months also saw substantial remittance inflows, with December reaching $2.64 billion, November at $2.2 billion, and October at $2.39 billion.
The steady rise in remittance inflows, particularly in recent months, highlights the ongoing support from the Bangladeshi diaspora, helping to bolster the nation’s economy during challenging times.
