Remittance inflow in 1st 23 days of May surges 41.31pc

Bangladesh witnessed a strong growth in inward remittance during the first 23 days of May as expatriate Bangladeshis continued to send higher amounts of money through formal banking channels.

According to the latest data, the country received US$2.98 billion in remittances during the period from May 1 to May 23, 2026, compared to $2.11 billion during the corresponding period of May last year.

The inflow registered a significant 41.31 percent year-on-year growth, reflecting sustained confidence among expatriate workers in the country’s formal financial system.

On May 23 alone, remittance inflow amounted to $173.64 million, indicating steady momentum in foreign currency earnings.

Banking sector experts said the continued rise in remittance inflow is playing a vital role in easing pressure on the foreign exchange market and strengthening the country’s external sector.

They said various policy supports, including cash incentives for remitters, simplified banking services and stricter monitoring against illegal money transfer channels, contributed to the encouraging growth trend.

Meanwhile, total remittance inflow during the current fiscal year from July 2025 to May 23, 2026 reached $32.31 billion, up from $26.64 billion during the same period of the previous fiscal year, marking a 21.26 percent growth.

Economists observed that the healthy remittance performance would continue to support macroeconomic stability and enhance foreign exchange reserves in the coming months.