বাংলা
- 11 Apr, 2025
- Finance Management
- by Admin
Remittance crosses $25b this fiscal year
Remittance inflow in the first ten months and eleven days of this fiscal year surpassed $25 billion, breaking all previous records. Between July last year and May 11 this year, Bangladesh received $25.45 billion in remittances, up 28 percent year-on-year, according to data from the Bangladesh Bank.
The previous record was $24.77 billion, which came in fiscal 2020-21.
The surge in money sent home by Bangladeshi expatriates is being credited to a cocktail of factors, such as a narrowing gap between official and informal exchange rates, a clampdown on money laundering and a renewed sense of patriotism among people living abroad. Since August 5 last year, remittance inflows have risen every month. In March, the country hit a single-month record of inflows: $3.29 billion. The spike in remittance inflow is helping the government stop the depletion of foreign currency reserves. As of May 7, foreign currency reserves stood at $20.3 billion.
