Remittance Rises 11.6% to $1.15bn in July

Bangladesh received US$1.15 billion in remittances during the first 11 days of July, marking a strong start to the 2026–27 fiscal year with an 11.6 percent year-on-year increase, according to the latest data released by Bangladesh Bank.

The country received $1.03 billion during the corresponding period of the previous fiscal year, from July 1 to July 11, 2025.

Bangladesh Bank data showed that remittance inflows gathered momentum toward the end of the first week of July. Between July 9 and July 11 alone, expatriate Bangladeshis sent US$191 million through formal banking channels.

Economists and central bank officials attributed the continued growth to greater stability in the interbank foreign exchange market and more competitive exchange rates offered by commercial banks.

They also said the increasing use of formal banking channels instead of informal money transfer networks, such as hundi, has helped boost remittance inflows.

The sustained rise in remittances is expected to strengthen the country's foreign exchange reserves and ease balance-of-payments pressures during the first quarter of the current fiscal year, providing additional support to the overall economy.