Bangladesh receives $1.63b remittance in 21 days of September

Bangladesh has received $1.63 billion in remittances in 21 days of September 2024, according to a report released by Bangladesh Bank on Sunday.

This represents a $300 million increase compared to the same period last year, when expatriates sent $1.33 billion in September 2023.

The central bank’s data reveals that the average daily remittance inflow for September is $77.8 million. If this pace continues, the total remittance for the month is expected to surpass $2.33 billion.

Bangladesh Bank Spokesperson and Executive Director Husneara Shikha highlighted the steady increase in remittance inflows since July. Expatriates are sending large amounts of remittances, which has significantly boosted Bangladesh’s foreign exchange reserves and halted the depletion of reserves.

In the fiscal year 2023-24, Bangladeshi expatriates sent a total of $23.92 billion in remittances, marking the second-highest annual figure ever. The highest remittance inflow was recorded in the fiscal year 2020-21, with $24.77 billion sent by expatriates.