Expats send home Tk 23,400cr in 26 days of October

Expatriate remittances continue to rise in October, following a similar trend seen in September. In the first 26 days of October, expatriate Bangladeshis have sent $1.95 billion, or approximately Tk 23,400 crore, calculated at an exchange rate of Tk 120 per dollar.

According to the latest data from the central bank, this month has seen an average daily inflow of around $7.5 million, or Tk 900 crore. Should this pace continue, October’s total remittance inflow is projected to reach $2.5 billion by month’s end.

In detail, remittance inflows through various channels over this period include $547.32 million via state-owned banks, $99.99 million through Krishi Bank, $1.296 billion via private banks, and $5.12 million through foreign banks. However, nine banks, including Bangladesh Development Bank (BDBL), Rajshahi Krishi Unnayan Bank (RAKUB), and several private and foreign banks, reported no remittance inflows during this time.

In September, expatriates sent home $2.4 billion (Tk 28,856 crore). This follows a recent pattern of robust remittances: $1.9 billion in July, $2.54 billion in June, and $2.25 billion in May of 2024. Notably, the highest monthly remittance of $2.6 billion was recorded in July 2020, while the highest annual remittance inflow was achieved in the 2020-2021 fiscal year, totaling $24.78 billion.