Expats send Tk 2,765cr in first four days of new year

Bangladeshis living abroad have sent remittances worth $226.73 million (approximately Tk 2,765 crore) in the first four days of January 2025, according to Bangladesh Bank. This amounts to over Tk 691 crore daily, based on the exchange rate of Tk 122 per dollar.

The central bank reported that $72.2 million came through government banks and over $10 million was channelled through one of the two specialised banks (Krishi Bank). Besides, $144 million was transferred via private banks.

Record-breaking December

The impressive start to the year follows a record-breaking month in December 2024, when Bangladesh received its highest-ever remittances for a single month—$2.64 billion (approximately Tk 31,668 crore). This surpassed the previous record of $2.59 billion in July 2020 during the pandemic.

In December alone, the remittance inflow was $648 million higher compared to the same month in 2023, which saw $1.991 billion in remittances.

Fiscal Year overview

During the first half of the current fiscal year (July-December 2024-25), expatriates sent a total of $13.777 billion. This marks an increase of $297.7 million compared to the same period of the previous fiscal year, which saw $13.48 billion in remittances.

Significance for the economy

The continued growth in remittance inflows is a vital boost for Bangladesh’s economy, contributing significantly to foreign reserves and supporting rural livelihoods. Economists note that the consistent rise underscores the resilience of Bangladeshi workers abroad and the importance of formal banking channels for remittance transfers.

The positive trend provides optimism for meeting economic targets and strengthening the country's balance of payments in the coming months.