Remittances surge 15% to surpass $3b in May

The country’s remittance inflow rose by 15.34% year-on-year in May to US$3.42 billion, marking the sixth consecutive month above the $3 billion threshold.
The increase was driven mainly by migrant workers sending additional funds home ahead of Eid-ul-Azha, alongside sustained inflows from Bangladeshis living abroad.
The latest figures further strengthened the country’s foreign exchange position and supported steady remittance performance in the current fiscal year. During the first 11 months of the fiscal 2025-26 (July-May), expatriate Bangladeshis sent home $32.75 billion, compared with $27.5 billion in the same period of the previous fiscal year, reflecting a 19% year-on-year increase.
Officials from Bangladesh Bank attributed the continued growth to incentives for using formal banking channels, rising confidence in the banking system, and seasonal transfers ahead of Eid. “The positive trend in remittance inflows has continued due to incentives, increased trust in the banking system, and higher transfers ahead of Eid,” central bank officials said.
Monthly data show consistent strength: $3.22 billion in April, $3.75 billion in March (the highest on record), $3.22 billion in December 2025, $3.17 billion in January 2026, and $3.02 billion in February 2026.
Economists said the sustained rise in remittances is helping stabilise the external sector by easing pressure on foreign exchange reserves, supporting the currency market, and strengthening the balance of payments.
According to the latest data, Bangladesh’s gross foreign exchange reserves stood at $34.77 billion as of 1 June 2026, while reserves under the IMF’s BPM6 standard were $30.11 billion, as reported by Bangladesh Bank and the International Monetary Fund methodology.