Remittance inflow grows 16.75pc in October

Overseas migrant workers sent $2.3 billion in remittance last month, nearly 16.75% more than what they sent in the same month last year – as the fall of dictator Sheikh Hasina encouraged strong inflows for the third straight month

In October 2023, $1.97 billion remittance inflow was recorded.

Central bank sources claimed expatriate workers are increasingly gaining confidence in legal channels over hundi mechanisms, and this among other reasons are contributing to a rise in remittances since 5 August.

From July to October in the 2024-25 fiscal year, Bangladesh received $8.83 billion in remittances, up from $6.87 billion during the same period last fiscal year.

In the previous month, September 2024, remittance inflows reached $2.4 billion, showing a steady growth trend in overseas earnings for Bangladesh.