Remittances surpass $2 billion in first 25 days of October

The figure has not fallen below $2 billion in any month since the Awami League government’s fall in August 2024

Expatriate Bangladeshis have sent over $2 billion in the first 25 days of October, maintaining the upward trend in remittance inflow.

A review of Bangladesh Bank data shows on Sunday that expatriates sent $2.03 billion through official banking channels during this period.

On a daily basis, an average of $81.3 million arrived in the country this month, compared with an average daily remittance of $77.2 million in October 2024.

In the entire month of October last year, remittance inflow totalled $2.39 billion. With five days still remaining this month, expatriates have already sent almost the same amount as the corresponding period last year.

According to the central bank’s data, remittance inflow in September stood at $2.68 billion, an 11.72 percent growth from the same month a year earlier, when inflow was $2.4 billion.

Monthly remittances have not dropped below $2 billion since the fall of the Awami League government in August 2024. The highest amount during this period was recorded in March, when remittances reached $3.29 billion, while the lowest was in January at $2.18 billion.

The rising remittance inflow has also boosted Bangladesh’s foreign exchange reserves.

As of Oct 21, gross reserves stood at $32.1 billion, while under the IMF’s BPM6 calculation method, the figure was $27.35 billion.