Bangladesh receives $655m in remittances in 9 days

Expatriate Bangladeshis sent around $655 million remittances during the first nine days of November in the fiscal 2024-25.

According to Bangladesh Bank (BB) data released on Sunday, private banks managed the highest share, facilitating $421.94 million in remittances while specialised banks contributed $31.56 million and foreign banks handled $1.75 million.

Its further breakdown shows that between November 3 and 9, a total of $612.58 million was remitted to Bangladesh while expatriates sent $42.41 million from November 1-3.

The inflow, however, dropped significantly in July, the first month of the current fiscal year, with remittances totalling nearly $1.91 billion- the lowest in the past 10 months.

The trend began to stabilise with the formation of an interim government, and remittances rebounded in August, reaching $2.2213 billion.

In September, remittance inflows reached a fiscal year high of $2.4048 billion, followed by a slight decline in October, which saw $2.3951 billion in total remittances.

Source: BSS