Remittance hits record $30 billion mark

Bangladesh has achieved a historic milestone in inward remittances, with the total crossing the $30 billion mark for the first time.

According to Bangladesh Bank data, remittance inflows reached $30.04 billion on 28 June, just two days before the close of the 2024-25 fiscal year— marking a 26.5% increase compared to the same period last year.

This new record surpassed the previous highest remittance earnings of $24.78 billion recorded in the 2020-21 fiscal year.

Officials attribute the sharp rise in remittance to the political shift that occurred in August last year.

The change in government helped stabilise the economy and restore confidence among expatriates, contributing to a steady rebound in the country’s foreign exchange reserves.