Staff Reporter :
Inward remittances to Bangladesh surpassed $2 billion in the first 21 days of December, amid renewed volatility in the exchange rate.
The latest data from Bangladesh Bank (BB), published on Sunday, shows that $2.007 billion was received in remittances during this period, surpassing the total of $1.99 billion sent in December last year.
For the fiscal year 2025 (July-November), total remittance inflows amounted to $11.13 billion, marking an increase of $2.32 billion, or 26.4 percent, compared to the same period last year, according to central bank data.
Although remittance inflows had declined by 3.2 percent in July, a period of political unrest and protests against the government, they rebounded in subsequent months.
Significant increases were seen in August (39 percent), September (80 percent), and October and November (21 percent and 14 percent, respectively).
Experts attribute the surge in remittances to expatriates opting for legal channels, particularly following the political transition in the country.
Reports suggest that many overseas Bangladeshis were previously hesitant to send money through official systems due to concerns that remittances under the previous government were being diverted for money laundering purposes.
Husneara Shikha, Executive Director and Spokesperson for Bangladesh Bank, informed the media that stronger regulatory monitoring has expedited the flow of remittances, ensuring timely disbursement to beneficiaries.
However, the foreign exchange market has seen some instability, with the US dollar’s value overshooting official exchange rates in Bangladesh.
Speculation in the forex market has driven kerb market prices up to Tk 128 per dollar, fuelled by alleged market manipulation by some banks and money exchange houses, along with increased demand ahead of Ramadan, the Muslim fasting month.
The gap between the official exchange rate, capped at Tk 120 under the crawling peg system, and the rates offered by some banks and money exchange houses – ranging from Tk 125 to Tk 128 – highlights regulatory discrepancies.
