Expatriates have sent more than $2 billion in remittances during the first 18 days of February in the country, with money transfers surging ahead of Ramadan and Eid.
According Bangladesh Bank, on Thursday, if this upward trend continues, total remittances for the month are expected to cross the $3 billion milestone.
Central bank statistics show that January 2026 saw an inflow of $3.17 billion, marking it as the third-highest monthly total in the country’s history. The current fiscal year (FY 2025-26) has shown robust growth, with total remittances reaching $21.56 billion between 1 July and 18 February.
This represents a significant 22.3 percent increase compared to the $17.63 billion received during the same period of last FY 2024-25.
The historical peaks for monthly remittances remain:
$3.29 billion (March 2025 – fueled by Eid-ul-Fitr)
$3.22 billion (December 2025)
$3.17 billion (January 2026)
Impact on reserves
Economists believe the surge in formal channel transfers is a result of a stabilised exchange rate and a decrease in illegal hundi activities following the political transition in August 2024. This influx is providing a much-needed boost to the nation’s foreign exchange reserves.
As of 17 February, the country’s gross reserves stood at $34.54 billion. However, according to the IMF’s BPM-6 calculation method, the net reserves are currently valued at $29.86 billion.
Banking officials and experts point to two primary drivers:
Ramadan Preparation: Families in Bangladesh face higher expenses during Ramadan, prompting expatriates to send more money home.
Increased confidence in the banking sector and a stable dollar rate have encouraged migrants to shun illegal channels in favor of official ones.
