The surge in February, which is 25% higher than the amount received in the same month last year, has been attributed to Ramadan, a period when remittance inflows typically rise as expatriates send more money to support their families

The Bangladesh Bank released the latest remittance data today (2 March).

According to central bank data, Bangladesh recorded its highest-ever monthly remittance inflow of $2.64 billion in December last year.

The second-highest inflow of $2.59 billion was recorded in July 2020.

The third highest was registered $2.54 billion was recorded in June 2024.

According to the central bank, total remittance inflow stood at $18.49 billion from July to February of the current fiscal year of FY2024-25, reflecting a 23.8% increase compared to the same period of the previous fiscal year.

During the July-February period of FY2023-24, the country received $14.94 billion in remittances.

The surge in February, which is 25% higher than the amount received in the same month last year, has been attributed to the holy month of Ramadan, a period when remittance inflows typically rise as expatriates send more money to support their families.

According to central bank data, remittance inflow in February 2024 stood at $2.02 billion.

Bank officials note that remittances tend to increase during Ramadan and the two Eid festivals.

This year, the trend has continued, further supported by a reduced gap between the dollar exchange rate in formal and informal channels, encouraging expatriates to use banking channels.

Notably, the difference in exchange rates between these channels plays a significant role in fluctuations in remittance inflows.