Bangladesh's remittance inflow soars by 29.48% in July

Bangladesh received a record-breaking remittance of $2.48 billion in July, the first month of the 2025–26 fiscal year, marking a robust 29.48% year-on-year growth.

According to the latest data released by Bangladesh Bank on Saturday (3 August), the inflow translates to approximately Tk 302.3 billion, calculated at the current exchange rate of Tk 122 per US dollar.

This notable rise stands in sharp contrast to the same period last year, when remittances totalled $1.91 billion. In July 2024, remittance inflows had dropped significantly due to calls on social media urging expatriates to halt money transfers in protest against political unrest.

Following subsequent political changes, the remittance trend has since gained strong momentum, as per a UNB report.

Bangladesh Bank officials attribute this upward trajectory to several proactive government measures, including the 2.5% cash incentive on remittances, stricter regulation of informal channels such as the hundi system, and overall improvements in the formal banking infrastructure.

These efforts are not only encouraging expatriates to use legal channels but are also contributing to a healthier foreign exchange reserve.

"This follows a strong performance in June, when remittances reached $2.82 billion, marking an 11 per cent increase over the same period the previous year," said Arif Hosain Khan, Executive Director and spokesperson of Bangladesh Bank.

He noted that the previous fiscal year (FY2024–25) saw record-breaking remittance inflows, totalling $30.33 billion—a significant 27% increase from the $23.74 billion received in FY2023–24—setting a new all-time high for annual remittances.

"The continuous rise in remittance inflow is bringing stability to the economy and providing much-needed relief to the country's dollar supply," Arif Hosain added.