Pre-Eid spike spurs remittances to cross $3bn in record time

Bangladesh's remittance inflows have maintained a powerful upward trajectory, recording $3.05 billion in the first 24 days of March 2026, as expatriates increased transfers ahead of the Eid-ul-Fitr celebrations.

According to the latest data from Bangladesh Bank (BB), this figure represents a robust 10.9 percent growth compared to the $2.74 billion received during the same period in March 2025.

It is also the fastest time period in a month that the monthly remittance figure has crossed the $3 billion mark. 

The current fiscal year FY 2025-26 continues to set new records for the country. Cumulative remittance from July 2025 to March 24, 2026, has reached $25.5 billion. This marks a significant 20.1 percent increase over the $21.23 billion recorded during the corresponding period of the previous fiscal year FY 2024-25.

Central bank officials attribute this surge to the government's 2.5 percent cash incentive on money sent through formal banking channels, which has successfully discouraged the use of the informal "hundi" system.

The surge was particularly concentrated in the first half of the month. Expatriate workers sent home $2.20 billion in the first 14 days of March alone-a massive 35.7 percent jump compared to the $1.62 billion received during the same timeframe in 2025.

Industry insiders noted that the flow remained steady between March 16 and March 23, with an additional $392 million entering the country. Non-resident Bangladeshis (NRBs) traditionally ramp up transfers during Ramadan to help families cover festival expenses, providing a seasonal boost to the economy.

The steady growth in foreign currency is providing a critical lifeline to the nation's foreign exchange reserves amidst global economic volatility. As of March 16, 2026, Bangladesh's gross reserves stood at $34.22 billion, while net reserves as per IMF BPM-6 stood at $29.52 billion.

Economists suggest that if this trend continues, the total remittance for FY 2025-26 could surpass previous annual records, further stabilizing the exchange rate of the Taka and easing pressure on the balance of payments.    �"UNB