Remittance inflow surges to $3.12b in April

Remittance inflows remained strong in April, as expatriates sent home significant funds ahead of the upcoming Eid-ul-Adha. 

According to latest data from the central bank, non-resident Bangladeshis remitted 3.12 billion US dollars during the month, equivalent to over 38,000 crore Taka. 

Arif Hossain Khan, Executive Director and spokesperson of Bangladesh Bank, confirmed the figures on Sunday.

Industry experts attributed the surge to the upcoming religious festival, noting that expatriates typically send more money home to help their families cover additional holiday expenses and the cost of sacrificial animals. This increased inflow is providing a much-needed boost to the country's foreign exchange reserves.

Based on the current exchange rate of 122.70 Taka per dollar, the exact remittance amount for April stands at Taka 38,368 crore. This follows an exceptionally strong performance in March, which saw a record-breaking 3.75 billion dollars in remittances--the highest ever recorded in a single month in Bangladesh. In February, the inflow was 3.02 billion dollars.

The upward trend is further reflected in the cumulative data for the current 2024-25 fiscal year. From July to April 30, Bangladesh received 29.33 billion dollars in remittances, marking a 19.5 percent increase compared to the 24.54 billion dollars received during the same period in the previous fiscal year.