Remittance inflows exceed $3bn for two consecutive months before election

Inflows sent through banking channels have grown 45.1 percent year-on-year, the central bank says

Remittance inflows have crossed $3 billion for a second consecutive month with the parliamentary election looming, with expatriates sending $3.17 billion in January.

On Sunday, the latest Bangladesh Bank report showed remittance receipts in January were up 45.1 percent from a year earlier.

In January last year, inflows stood at $2.18 billion.

The strong performance followed December’s inflows of $3.22 billion sent through formal banking channels, extending a sustained upward trend in remittances over the past two months.

Amid fragile overseas earnings, remittance inflows rose to $2.5 billion in February 2025 and did not fall below that level in the following months.

In March 2025, remittances increased to $3.29 billion.

With this upward trend, remittance inflows in subsequent months hovered at around $3 billion.

Usually, expatriate Bangladeshis send more money home around Ramadan, Eid and the Bengali New Year.

Central bank officials said many candidates took to crowdfunding around elections this time, with expatriates also sending money as part of those efforts.

On the other hand, while the dollar weakened against several Asian currencies, the exchange rate in Bangladesh remained stable. The Indian rupee depreciated against the dollar.

Bankers believe these two factors encouraged expatriates to send higher remittances in January.