Remittance Hits $1.93 Billion in First 26 Days of July

Bangladeshi expatriates sent $1.93 billion (approximately Tk 23,583 crore) in remittances during the first 26 days of July, according to data released by the central bank on Sunday. The amount was calculated using an exchange rate of Tk 122 per US dollar.

If the current trend continues, officials estimate that total remittance inflows for July will surpass $2.3 billion.

The steady growth in remittance is attributed to several factors, including improved banking services, increased cash incentives for remitters, and ongoing measures to combat illegal money transfers through informal channels such as hundi.

Officials emphasised that remittances sent through official banking systems are playing a crucial role in supporting Bangladesh’s foreign currency reserves.

In June, remittance inflows reached $2.82 billion, reflecting an 11% year-on-year increase.

The last fiscal year (2024–25) also ended on a record high, with total remittances amounting to $30.33 billion—up nearly 27% from $23.74 billion in the previous year. This marks the highest annual remittance inflow in the country's history.

The sustained inflow has provided much-needed support for the national economy, helping to stabilise the dollar supply and strengthen the country’s external financial position.