Remittance inflows hit record $3.62b in March

Bangladesh recorded a historic surge in remittance inflows, receiving $3.62 billion in the first 30 days of March 2026, marking the highest monthly figure in the country’s history.

The increase was largely driven by higher transfers from expatriates ahead of Eid-ul-Fitr, providing a strong boost to the country’s foreign exchange reserves, which rose to $34.05 billion by March 30.

The March inflow represents a 10.7 percent increase compared to $3.27 billion received during the same period in 2025. 

This strong performance has contributed to a significant rise in overall remittance earnings for the current fiscal year.

Between July 2025 and March 28, 2026, total remittance reached $26.07 billion, up 19.8 percent from $21.76 billion during the same period of the previous fiscal year.

Officials at the central bank attribute the growth to government incentives, including a 2.5 percent cash bonus for remittances sent through formal banking channels, which has helped curb the use of informal transfer systems.

The steady inflow of foreign currency has strengthened the country’s reserve position. Under the IMF’s BPM6 calculation method, reserves stood at $29.35 billion, slightly lower than the gross figure.

Remittance inflows were particularly strong in the first half of March, with $2.20 billion received in the first 14 days alone; a 35.7 percent increase year-on-year. 

Analysts say non-resident Bangladeshis typically increase transfers during Ramadan to support family expenses, creating a seasonal boost for the economy.

Economists believe that if the current trend continues, total remittance earnings for the 2025�"26 fiscal year could surpass previous records, helping stabilize the exchange rate and ease pressure on the country’s balance of payments amid global economic uncertainty.

SH