The $25 billion in remittances received within ten months marks a fundamental and unprecedented change.
Bangladesh’s total remittance inflow from May 11th, 2024, to the same date this year reached $25.45 billion, showing a substantial 28% increase compared to the previous year.
By the seventh day of May, remittances received by Bangladeshi banks totaled $601 million, climbing to $991 million by the eleventh day.
In the first 26 days of April, remittances totaled $2.27 billion.
March was a record month for remittance inflow to Bangladesh, with banks receiving $3.29 billion.
The $25.45 billion in remittance was distributed as follows: $853.8 million to state-owned banks, $119.4 million to a specialized bank, $1.29 billion to private banks, and $4.3 million to foreign banks.
During the corresponding period of the 2023-24 fiscal year, the country’s remittance inflow was $19.72 billion, in contrast to the higher amount received in the current period.
Bangladesh experienced the following monthly remittance inflow from August to December 2024: $2.22 billion, $2.40 billion, $2.39 billion, $2.19 billion, $2.63 billion, respectively. This pattern of substantial remittances persisted into the new year, with $2.18 billion coming in January 2025 and $2.52 billion in February.
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Now the dollar ranges from Tk 121 to 122.50, while rates in the informal market hover between Tk 123 to 124.50.
The US dollar is currently trading at Tk 121 to Tk 122.50 officially, and at Tk 123 to Tk 124.50 in the informal market.
