Bangladesh Receives Record $21.77 Billion in Remittances for FY25

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 specialized bank, $1.29 billion via private banks, and $427 million through foreign banks.

Before Eid, expatriates had already sent a record-breaking $3.29 billion in remittances in March, reflecting both the festive season’s influence and the increasing trend of Bangladeshi workers sending money home.

The consistent flow of remittances has played a pivotal role in stabilizing 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 FY25, 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 FY24.

Also See: Bangladesh GDP Growth Slows to 3.9% for FY25, Says ADB

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.

This news is sourced from Dhaka Tribune and is intended for informational purposes only.