Bangladesh Receives $1.63 Billion in Remittances Within 21 Days

Bangladesh has received $1.63 billion in remittances during the first 21 days of September 2024, according to a report released by Bangladesh Bank on Sunday.

This marks a $300 million increase compared to the same period last year, when expatriates sent $1.33 billion in September 2023.

Data from the central bank reveals that the average daily remittance inflow for September stands at $77.8 million. If this trend continues, the total remittance for the month is projected to exceed $2.33 billion.

Husneara Shikha, Spokesperson and Executive Director of Bangladesh Bank, noted the steady rise in remittance inflows since July. Expatriates have been sending significant sums, which has bolstered Bangladesh's foreign exchange reserves and halted their depletion.

In the fiscal year 2023-24, Bangladeshi expatriates remitted a total of $23.92 billion, the second-highest annual figure on record. The highest remittance inflow occurred in the fiscal year 2020-21, when expatriates sent $24.77 billion.