Bangladeshi expatriates sent $2.52 billion in remittances in February 2025, marking a 25 percent year-on-year growth compared to February 2024, when the figure stood at $2.02 billion. From July 2024 to February 2025, the total remittance inflow reached $18.49 billion, compared to $14.93 billion during the same period in the previous fiscal year—an increase of 23.8 percent. Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan made disclosure on Sunday. Monthly Breakdown of Remittances in FY 2024-25: July: $1.91 billion August: $2.22 billion September: $2.4 billion $2.25 billion received in remittances in May, up 10.3% over April October: $2.39 billion November: $2.2 billion December: $2.64 billion January: $2.19 billion February: $2.52 billion According to the central bank, remittance inflows saw a notable rise following the political transition on August 5, 2024. Remittance inflow stands at Tk 16,008.84 crore in first half of Feb Arif Hossain Khan attributed the growth to expatriates increasingly using banking channels to send money home, incentivised by instant bonuses and secure transactions. “The central bank always encourages remitters to send their hard-earned money through secure banking channels,” he said.

Bangladesh received USD 1,312.22 million (Tk 16,008.84 crore) in remittance during the first 15 days of February, according to the latest data from Bangladesh Bank. This marks an average daily inflow of USD 87.4 million (Tk 1,065.08 crore). State-owned banks accounted for USD 466.55 million (Tk 5,693.91 crore) of the total remittance, while specialised banks facilitated USD 88.79 million (Tk 1,083.24 crore). Private commercial banks received the highest share, bringing in USD 753.9 million (Tk 9,197.58 crore), whereas foreign banks handled only USD 3 million (Tk 36.6 crore). Dollar rate for remittance soars as banks compete for overdue payments On 1 February alone, Bangladesh recorded a remittance inflow of USD 186.4 million (Tk 2,274.08 crore). During the week from 2 to 8 February, expatriates sent USD 652.32 million (Tk 7,967.10 crore), while the following week, from 9 to 15 February, saw an inflow of USD 641.27 million (Tk 7,827.99 crore). The steady remittance flow remains a crucial source of foreign exchange for the country, aiding in stabilising the economy amid external financial challenges.

The US dollar rate for remittances has risen again by 50 basis points, reaching Tk 122.5. Officials from various banks said that over the past two weeks, the price of the dollar has increased by at least 50 basis points, now standing at Tk 122.5 per dollar. After a brief period of stability in the foreign exchange market, the remittance dollar rate has surged due to mounting pressure from overdue import payments. BB-Dollar: Taka loses 12.72% value in 2024 as dollar strengthens Despite this, banks continue to officially display the dollar price at Tk 122, as per Bangladesh Bank’s directive. In late December, the central bank verbally instructed banks to cap the maximum buying and selling rate for remittance dollars at Tk 122. It also mandated that the difference between buying and selling rates must not exceed Tk 1, warning of fines for non-compliance. Bangladesh Bank identifies reasons behind increased dollar demand A senior official of a private bank told UNB that the remittance dollar rate had remained between Tk 121.5 and Tk 122 in line with central bank’s instructions. However, with overdue import payments piling up, competition among banks to secure dollars has intensified, leading some banks to purchase remittance dollars at a higher price. At a meeting on Monday (Jan 27), the central bank directed banks to expedite payments for all overdue import liabilities and back-to-back letters of credit (LCs). This directive, issued during a meeting of the Authorised Dealers Forum, further escalated dollar demand. Following this, the remittance dollar rate surged, rising by at least 50 basis points to reach Tk 122.5 per dollar.

The United States (US) has emerged as the top country for sending remittances to Bangladesh for three consecutive months, says the Bangladesh Bank. Following the political changeover in August, remittance inflows from the US have seen a significant rise, enabling the US to surpass the United Arab Emirates (UAE), which had long been the leading source of expatriate income. Bangladesh Bank (BB) has published a detailed report on expatriate income for the three-month period from September to November of the fiscal year 2024-25. The data shows that approximately US $1.4 billion in remittances came from the US during this period. Asian shares mixed as Big Tech drops affect Wall StreetThe UAE, which ranked second, contributed $990 million in remittances between September and November.The top 10 countries for sending remittances to Bangladesh are Saudi Arabia, Malaysia, the United Kingdom, Kuwait, Italy, Oman, Qatar and Singapore, in that order. According to the central bank data, remittances from the US totaled $293.4 million in August, rising to nearly $390 million in September—a more than 34 percent increase. The inflow continued to grow, reaching $500 million in October, a further 28 percent increase compared to September. In November, remittance income from the US peaked at $511.9 million.

Bangladeshi expatriates sent US $2.25 billion inward remittance in May, which brings good news amid the foreign exchange crisis. Bangladesh Bank's (BB) latest remittance update revealed that expatriates sent $2.25 billion as remittance in May this year, an increase of 32.35 percent year-on-year. Remittance was $1.7 billion in the same month of last year. May 2024's receipts were also 10.29 percent higher than April this year. In March, $2.04 billion entered Bangladesh as remittance, central bank data showed. Migrant remittances now outpace foreign investments in developing countries: IOM report The sector insiders said the higher exchange rate of the dollar and ahead of Eid-Ul-Azha, the expatriates are sending additional remittance to their near and dear relatives. So the inward flow of remittance sees such a growth. According to the Bangladesh Bank (BB), the country received $10.56 billion from expatriates in five months from January to May this year. After different initiatives to encourage inward remittances flow by banks, Bangladesh saw a boost of remittances flows over $2 billion in these 5 months. Bangladesh received $2.11 billion in January, $2.16 billion in February, $1.97 billion in March, $2.04 billion in April, and $2.25 billion in May, which saw a shining in the economy during the foreign exchange crisis. Bangladesh secures $8.31 billion remittance in first 4 months of 2024 Economist Dr Ahsan H. Mansur told UNB that Bangladesh can earn more remittances in the legal channel by enhancing financial and non-financial benefits for the remitters in the legal channel. He said remitters are preferring Hundi as the exchange rate is higher Tk 5 to 7 per US dollar in the illegal format, so legal remittances are diverting in the illegal Hundi due to the difference in exchange rate. Mansur said the government could announce different benefits including health cards, insurance coverage, pension benefits, etc. 'Remittance Award' in the works as incentive for sending money home through legal channels  

There is a plan to introduce a "Remittance Award" for those who send maximum remittance through legal channels, State Minister for Expatriate Welfare Shofiqur Rahman Choudhury said on Friday. Speaking at a remittance fair organised by the Bangladesh High Commission in London, he said, "The money sent by expatriates to Bangladesh through legal channels will be protected and there is an opportunity to earn more profit from this money than other countries through saving and investing with government incentives." The state minister also urged British Bangladeshis to play a special role in building Smart Bangladesh by sending remittances through legal channels. Ambassador Imran urges expatriates to send remittances through legal channels He also said a proposal of increasing the incentive from 2.5% to 3% for sending remittances will be raised at the highest level of the government for consideration. The state minister said Prime Minister Sheikh Hasina was implementing various measures for the welfare of expatriates and increasing their facilities. Saida Muna Tasneem, the high commissioner of Bangladesh to the UK, said, "Father of the Nation Bangabandhu Sheikh Mujibur Rahman launched the Sonali Bank in the UK in 1974 and remittances from the UK began to be sent from Bangladesh through legal channels from the UK. "Following the ideals and principles of Bangabandhu, his daughter Prime Minister Sheikh Hasina has taken various steps with utmost importance to provide expatriates with special privileges in various fields, including a 2.5% incentive for sending remittances and CIP status." Bangladesh received $2.16 billion remittances in February, highest in fiscal President of Bangladesh Awami League, UK Sultan Mahmud Sharif and General Secretary Syed Sajidur Rahman Farooq spoke as special guests at the event. A total of 14 leading companies sending remittances from UK to Bangladesh participated in the fair and informed the visitors about the facilities and incentives for sending remittances through legal channels. Earlier, the state minister discussed various issues related to the interests and welfare of expatriates in an exchange meeting with British-Bangladeshi journalists.