Bangladesh hits new remittance record in FY25

Monthly inflow in June alone rises 11 percent year-on-year, says Bangladesh Bank

For the first time ever, Bangladesh’s remittance receipts have surpassed the $30 billion mark in one fiscal year.

In the just-concluded FY2025, remittance inflow stood at $30.32 billion, according to figures shared by Bangladesh Bank.

The previous highest was $24.77 billion in FY2021.

Compared with the previous year, the latest figure marks a 26.80 percent year-on-year increase.

In FY2024, expatriates sent home $23.91 billion.

Bangladesh Bank spokesperson Arief Hossain Khan briefed media with the updated figures on Tuesday.

In monthly terms, June brought in $2.81 billion in remittance, up from $2.53 billion in the same month a year earlier -- an 11 percent rise.

Bankers cite strong dollar rates throughout the year as a key driver.

Mohammad Ali, managing director of Pubali Bank, said the rise in remittance through banking channels was driven by two factors: a stable dollar market and a drop in Hundi transactions.

He noted that steps taken by the authorities had discouraged informal money transfers, prompting more expatriates to opt for official remittance routes.

The dollar currently trades between Tk 122 and Tk 123 at banks and money transfer agencies.

Since May, the central bank has allowed market-based exchange rates for the dollar in line with the International Monetary Fund (IMF) conditions.

Governor Ahsan H Mansur said the rate is now market-based but expects only limited fluctuations from current levels.