Business Report :
Bangladesh has recorded a strong start to remittance inflows in August, with expatriates sending more than USD 1 billion in just the first 12 days of the month.
According to Bangladesh Bank data, remittances during August 1-12 totalled USD 1.054 billion, up sharply from USD 721 million in the same period last year – a rise of USD 333 million, or 34 per cent year-on-year.
Banking sector insiders say the trend signals sustained momentum in remittance growth that began in the first month of the current fiscal year. In July, expatriates sent home USD 2.47 billion, 29 per cent higher than the USD 1.91 billion recorded in July 2024.
Officials attribute the surge to strict government measures against illegal hundi transactions and the continuation of various incentives that encourage the use of legal channels for money transfers.
The robust inflow has eased pressure on the country’s foreign currency market, improved liquidity, and strengthened the central bank’s capacity to manage exchange rate volatility.
Bangladesh Bank officials noted that all pending foreign debt repayments have been cleared in recent months, and improvements in the balance of payments have helped stabilise the dollar market. Confidence among foreign correspondent banks has also been restored, further boosting cross-border transactions.
