Written by The Banking Post
In July last year, many Bangladeshi expatriates halted remittance transfers in solidarity with the student‐public movement. Following the “July Revolution,” Nobel Peace Prize–winning economist Dr. Muhammad Yunus assumed responsibility for national rebuilding, and remittance flows began to rebound immediately.
Throughout FY2024-25, remittance inflows reached a historic $30.33 billion—equivalent to over Tk 370,000 crore at an exchange rate of Tk 122 per dollar—marking the highest annual total on record.
In FY2023-24, Bangladesh received $23.91 billion in remittances. Year-on-year, FY2024-25 inflows rose by $6.42 billion. For comparison, remittances were $21.61 billion in FY2022-23 and $21.03 billion in FY2021-22. The previous peak had been FY2020-21’s $24.78 billion, when many migrant workers returned home during the COVID-19 pandemic and brought back insurance payouts and other dues.
Officials at Bangladesh Bank explain that during the pandemic, widespread factory shutdowns forced many expatriates out of work. Returning migrants repatriated their end-of-service benefits, driving that year’s record inflows.
Bangladesh Bank Executive Director and spokesperson Arif Hossain Khan noted that the FY2020-21 record has now been surpassed. He attributes the surge in legal remittances to a stronger official Taka‐Dollar rate, a narrower gap with open‐market rates, and a clampdown on hundi operators.
According to central bank data, remittance inflows from July 2024 through June 2025 totaled $30.33 billion—6.42 percent higher than the same period in FY2023-24.
Monthly Breakdown of FY2024-25 Remittances (in USD): July: 1.914 bn August: 2.221 bn September: 2.404 bn October: 2.395 bn November: 2.200 bn December: 2.640 bn January: 2.190 bn February: 2.530 bn March: 3.290 bn April: 2.750 bn May: 2.970 bn June: 2.820 bn
With remittances now topping $30 billion, expatriate earnings remain a vital pillar of Bangladesh’s economy.
