Remittance inflow surges 15.34% in early July

TIMES Report
1 Min Read
Photo: Collected

The flow of remittances into Bangladesh has shown strong momentum at the start of the new fiscal year, with $427 million received in the first six days of July — a 15.34% increase compared to the same period last year.

According to Bangladesh Bank data released on Monday, the country had received $371 million in remittances during the corresponding period in July 2024.

The increase comes on the heels of a historic year for remittance earnings. In the fiscal year 2024–25, Bangladesh received a record $30.33 billion in remittances — the highest ever in the country’s history. The figure marks a 26.80% jump from the $23.91 billion received in FY24.

Officials at the central bank credit the rise in inflow to policy incentives, a narrowing exchange rate gap, and seasonal factors such as Eid-ul-Adha. In addition, more migrants are using formal banking channels amid ongoing regulatory action against hundi networks.

The government and Bangladesh Bank have both reiterated the need to sustain formal remittance flows to stabilise the foreign exchange market and bolster reserves.

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