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Published : 29 Jun 2025, 08:39 PM
With two days remaining in the ongoing 2024-25 fiscal year, remittances sent by Bangladeshis overseas have already exceeded the $30 billion mark.
A review of Bangladesh Bank data shows the previous highest remittance inflow in a fiscal year was recorded in the 2020–21 financial year when expatriates sent $24.77 billion.
On the other hand, the total remittance sent from Jul 1, 2024, to Jun 28, 2025, of the outgoing financial year 2024–25 amounts to $30.04 billion, marking the highest-ever remittance received in a single year.
This figure is 26.50 percent higher than the same period of the previous fiscal year.
As of Jun 28 during the 2023–24 fiscal year, remittance inflow stood at $23.74 billion before the year logged $23.91 billion in total.
According to the latest data from the central bank provided by spokesman Arief Hossain Khan, remittance inflow during the first 28 days of June this year alone stood at $2.53 billion, compared with $2.37 billion in the same month the previous year.
As of Jun 28, two days before the fiscal year’s close, remittance sent through banking channels has increased by 7.10 percent compared with the full month of June 2024, central bank figures show.
Bankers attribute the surge in remittance to favourable exchange rates for the US dollar.
Throughout the year, Bangladeshi taka fetched higher rates against the dollar.
Over the past year and a half, demand for dollars has increased while the market has remained relatively stable. Currently, banks and money transfer agencies are offering between Tk 122 and Tk 123 per dollar.
In line with the International Monetary Fund’s (IMF) conditions, Bangladesh Bank allowed the exchange rate to be determined by the market from May this year.
Governor Ahsan H Mansur later told reporters that although the rate had been made market-based, significant fluctuations in the dollar’s value were not expected.
Even after one and a half months, the dollar rate remains stable.
