Remittances set to break records this December

The country is on track to achieve a new record in remittance inflows this December. In just the first 28 days of the month, over $2.42 billion (Tk 24,200 crore) has been received through legal channels. At an exchange rate of Tk 120 per dollar, this amounts to Tk 29,052 crore.

Daily remittance inflows averaged $8.65 million, equivalent to Tk 1,038 crore. According to Bangladesh Bank data released on Sunday (29 December), experts anticipate total remittance inflows for the month will set a new high if the current trend continues.

So far, $2.421 billion has been received in December, $430 million more than the same period last year. In December 2023, $1.991 billion was sent during the first 28 days.

From July to 28 December of the current fiscal year (2024–25), expatriates have remitted $13.558 billion. During the first five months of this fiscal year (July to November), $11.373 billion was received, with monthly figures of $1.913 billion in July, $2.224 billion in August, $2.404 billion in September, $2.4 billion in October, and $2.2 billion in November.

In the 2023–24 fiscal year, total remittances stood at $23.92 billion (Tk 2,82,000 crore), the second-highest annual remittance in the country's history. The highest record was set in 2020–21, with $24.77 billion.