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Published : 21 May 2026, 12:12 AM
A dramatic surge in remittances ahead of Eid-ul-Azha is pushing Bangladesh towards what could become the highest monthly foreign currency inflow in the country’s history.
On Wednesday, Bangladesh Bank spokesman Arief Hossain Khan said expatriates sent nearly $2.5 billion home in the first 19 days of May alone, as migrant workers accelerated transfers ahead of the festival.
The central bank expects the momentum to continue until Eid, set to be celebrated on May 28.
“May could see a remittance record. It may cross the $4 billion milestone,” Bangladesh Bank Executive Director Arief told bdnews24.com.
Central bank data shows Bangladesh received $2.48 billion in remittances by Wednesday during the first 19 days of May -- a sharp 38.5 percent increase from the same period last year.
During the first 19 days of May 2025, expatriates had sent $1.79 billion. Total remittance inflow for the entire month stood at $2.97 billion.
In the first 10 months and 19 days of the 2025-26 fiscal year, expatriates sent $31.81 billion home -- 20.83 percent higher than the corresponding period of the previous fiscal year.
The amount is also nearly 5 percent higher than the total remittance received during the entire 2024-25 fiscal year.
In April alone, remittance inflow reached $3.13 billion, up 13.62 percent from April last year.
Bangladesh has now received more than $3 billion in remittances for five consecutive months through April.
Updated Bangladesh Bank figures show total remittance inflow stood at $29.32 billion by April of the current fiscal year.
Commercial banks are currently offering around Tk 123 per dollar for remittances. At that rate, expatriates sent nearly Tk 305.4 billion home in the first 19 days of May.
Average daily remittance inflow stood at $130.7 million -- equivalent to roughly Tk 16.07 billion a day.
If the trend continues over the remaining 12 days of the month, Bangladesh could surpass the $4 billion mark for the first time in a single month.
Remittance inflows usually slow sharply after the two Eids, but this year the trend has defied expectations. Even in April, immediately after Eid-ul-Fitr, remittances crossed $3 billion.
In March, expatriates had sent a record $3.75 billion -- the highest monthly remittance inflow in Bangladesh’s history.
Meanwhile, Bangladesh Bank continued buying dollars from commercial banks amid the remittance boom.
On Wednesday, the central bank bought another $70 million from four banks through auction at Tk 122.75 per dollar.
Combined with earlier purchases this week, Bangladesh Bank has bought $465 million so far in May, taking total dollar purchases in the current fiscal year to $6.14 billion.
