Bangladesh's remittance inflow rises 22.50% in August to $2.97bn

The positive trend in the flow of remittances sent by expatriates has continued. 

They have sent more than $2.97 billion in remittances in August, the second month of the current fiscal year, marking a 22.50 percent increase compared with the same month last year. 

Bangladesh Bank revealed the data in its monthly remittance report released on Tuesday.

According to the report, expatriate Bangladeshis sent $2.97 billion home in August. 

In July, the first month of the fiscal year, they had sent $2.86 billion.

Banks are currently paying Tk 123 for each US dollar in remittances. 

At that rate, expatriates sent around Tk 364.90 billion in August. On average, $95.7 million arrived every day, equivalent to Tk 11.77 billion.

In August 2025-26, expatriates had sent $2.42 billion in remittances.

Overall, the country received $5.82 billion in remittances during the first two months of the current fiscal year, July-August. This is nearly 20 percent higher than the amount received during the same period of the previous fiscal year.

Among the major indicators of the country’s economy, remittance is currently in the strongest position and is helping keep the economy moving amid the ongoing crisis.

Expatriate Bangladeshis sent a record $35.59 billion during the 2025-26 fiscal year, which ended on Jun 30. The important economic indicator saw strong growth throughout the year. Remittances exceeded $3 billion in six of the 12 months between Jul 1, 2025 and Jun 30, 2026.

On average, $2.96 billion arrived every month, representing a 17.34 percent increase from the previous fiscal year.

In fiscal 2024-25, expatriates sent a total of $30.33 billion in remittances.

According to central bank data, the highest monthly remittance inflow was recorded in March, when $3.75 billion entered the country. The second-highest amount came in May, at $3.42 billion.

Bangladesh Bank spokesperson Arief Hossain Khan attributed July’s rise partly to the stronger dollar.

“The tendency to send money through hundi or illegal channels has declined since the interim government came to power. Everyone is now sending money through banking channels. This is mainly why remittance inflows have increased,” he said.

He also attributed the rise in remittances to the recent increase in the dollar’s value.

Meanwhile, the country’s foreign exchange reserves remain at a satisfactory level, supported by strong remittance inflows. There is currently no major concern or anxiety over the reserves.

The reserves remained satisfactory even after Bangladesh paid $1.49 billion in import bills for May-June to the Asian Clearing Union (ACU) on Jul 7.

At the end of Tuesday, Bangladesh’s reserves stood at $32.50 billion under the BPM-6 method, the special method used to calculate foreign exchange reserves according to IMF standards. On a gross basis, reserves stood at $37.41 billion.

Bangladesh Bank considers the reserves calculated under the BPM-6 method to be immediately usable reserves.

The central bank has most recently released import data for May. The data show that Bangladesh spent $7.51 billion on merchandise imports that month.

At the current level, the $32.50 billion in immediately usable reserves would be sufficient to cover roughly four and a half months of import payments.

However, Bangladesh will have to pay the ACU import bill for July-August next week. The country’s reserves are expected to decline somewhat after that payment.