Following recent political changes in Bangladesh, remittance inflows have accelerated significantly. The country saw its highest-ever remittance inflow in December of the 2024–25 fiscal year, reaching approximately $2.64 billion. The second-highest inflow occurred in February, the month of language commemoration, with nearly $2.53 billion in remittances. If the current trend continues, March could set a new record, surpassing previous remittance highs.
According to the latest data from Bangladesh Bank, expatriate Bangladeshis sent $1.6561 billion in remittances during the first 15 days of March. At an exchange rate of Tk 122 per dollar, this amounts to over Tk 20,204 crore. The daily average inflow exceeds $110 million (Tk 1,347 crore). If this momentum is maintained, total remittances for March could exceed $3 billion, marking a historic milestone.
A senior official from Bangladesh Bank stated that money laundering has declined since the new government took office, and illegal hundi transactions have also decreased. Additionally, expatriates are now receiving market-aligned exchange rates when sending remittances through banks, reducing incentives for informal transactions. The upcoming Eid-ul-Fitr festival has further contributed to the surge in remittance inflows.
Breaking down the $1.6561 billion remittance inflow in the first half of March, state-owned banks processed over $371.1 million, while specialized banks such as Krishi Bank handled $130 million. Private commercial banks facilitated the largest share, handling approximately $1.1516 billion, whereas foreign banks processed a modest $3.1 million.
Seven banks reported zero remittance inflows during this period, including the state-owned Bangladesh Development Bank (BDBL) and the specialized Rajshahi Krishi Unnayan Bank. Among private banks, ICB Islamic Bank and Padma Bank recorded no inflows, while foreign banks such as Habib Bank, National Bank of Pakistan, State Bank of India, and Woori Bank also reported no remittance transactions.
During the first eight months of the 2024–25 fiscal year, total remittance inflows reached $18.49 billion, a significant increase from $14.94 billion during the same period in the previous fiscal year. This represents a $3.55 billion rise in remittances compared to the previous year.
The highest monthly remittance inflow in Bangladesh's history was recorded in December 2024, when expatriates sent $2.64 billion. For seven consecutive months since August, remittance inflows have surpassed the $2 billion mark. In July, Bangladesh received $1.9137 billion, followed by $2.2213 billion in August, $2.4041 billion in September, $2.395 billion in October, $2.20 billion in November, $2.64 billion in December, $2.19 billion in January, and $2.53 billion in February.
Previously, the highest single-month remittance inflow was recorded during the COVID-19 pandemic in July 2020, when expatriates sent $2.59 billion. However, this record was broken in December 2024. Compared to December 2023, which saw $1.991 billion in remittances, December 2024 experienced a $648 million increase. Except for July, each of the past 11 months has recorded remittance inflows exceeding $2 billion, indicating a strong upward trend in expatriate remittances.
