Bangladesh received $2.48 billion in remittances in July, the first month of the current FY2025-26.
In contrast, during the same month last year, amid political agitation, students and citizens had called for a halt in remittance transfers as a form of non-cooperation with the government. As a result, remittance inflows had dropped to $1.91 billion.
Compared to July last year, this year’s remittance increased by $564.1 million, or 29.48%, according to the Bangladesh Bank data.
Following the advice of the International Monetary Fund (IMF), the central bank introduced a “crawling peg” system for the exchange rate on 8 May last year.
At that time, the mid-rate for the dollar was raised by Tk7 at once, setting it at Tk117 per dollar. Subsequently, remittance inflows through banking channels began to rise quickly. However, the July movement disrupted this trend, due to calls for a remittance shutdown, bank closures, and other actions, leading to a decline in expatriate income. The amount of remittance received in July became the lowest in ten months.
After the fall of the Awami League government on 5 August, stricter measures against money laundering and other actions helped boost remittances again.
According to the Bangladesh Bank, a total of $30.33 billion in remittances came into the country through formal channels in FY25. In the previous fiscal year, the amount was $23.91 billion, indicating that remittance inflows rose by $6.41 billion or 26.82%.
LND/SAE
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