Bangladesh’s remittance surges to record $2.95b in March
NN Online:
Bangladesh has achieved a new milestone in remittance inflows, receiving $2.95 billion in just 26 days of March, surpassing all previous records.
Banking and financial experts predict that for the first time, the country may cross the $3.0 billion mark in a single month before March ends. The previous highest monthly remittance record was $2.64 billion, set in December 2024, which was already surpassed on March 24, when remittances reached $2.75 billion.
According to Bangladesh Bank, remittance inflows in March saw an 82.4% year-on-year growth. From July 2024 to March 26, 2025, the country received $21.44 billion, compared to $16.69 billion during the same period in the previous fiscal year.
Economists attribute this sharp rise in remittances to increased financial activity ahead of Ramadan, Eid, and Pahela Baishakh. Dr. M. Mashrur Reaz, a former World Bank economist, said, “The surge in remittance inflows has provided relief to the economy as people prepare for upcoming festivals. This rise boosts overall economic activity and government revenue.”
Industry insiders believe that remittance inflows have surged since the new government took office. The crackdown on hundi operations and money laundering has encouraged more expatriates to send money through official banking channels. Additionally, banks are now offering exchange rates comparable to the open market, further incentivizing legal remittance transfers.
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July: $1.91 billion
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August: $2.22 billion
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September: $2.40 billion
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October: $2.39 billion
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November: $2.20 billion
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December: $2.64 billion
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January: $2.19 billion
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February: $2.53 billion
If the current trend continues, March 2025 will set a historic benchmark for Bangladesh’s remittance inflows, further strengthening the country’s foreign exchange reserves and economic stability.