![Remittances boost forex reserves of Bangladesh to $27B, with $21.77B received in FY25 and March hitting a record $3.29B. [Image via Dhaka Tribune]](https://southasiatimes.org/wp-content/uploads/elementor/thumbs/bigstock-macro-shot-of-a-dollar-do-247740397-1550507539832-932dcd9552a057f14308b82a189981af-r52fe990fshlfbzpjhn5vlch6yfejng32neamx2bgo.webp "bigstock-macro-shot-of-a-dollar-do-247740397-1550507539832-932dcd9552a057f14308b82a189981af")
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.
