Remittance inflow surges by 79pc to $2.25b in first 19 days of March

Bangladesh has witnessed a sharp rise in remittance inflows, surging by 78.57% year-on-year to $2.25 billion in the first 19 days of March, according to Bangladesh Bank spokesperson Arief Hossain Khan.

The figure marks a substantial increase from the $1.26 billion recorded during the same period last year.

Bankers attribute this surge to expatriate Bangladeshis sending higher amounts to support their families during the holy month of Ramadan and in preparation for Eid-ul-Fitr.

In the past, a significant portion of remittances flowed through informal hundi channels. However, the narrowing gap between exchange rates in the open market and formal banking channels has encouraged more expatriates to use official banking routes for transactions.

Data from the Bangladesh Bank reveals that total remittances sent by expatriates from July 2024 to 19 March 2025 reached $20.74 billion – an increase of $4.41 billion (26.9%) compared to the $16.33 billion recorded during the same period in the previous fiscal year.