Remittance below $3b for fifth month

Bangladesh received US$2.87 billion in remittances in October, remaining below the $3 billion mark for the fifth consecutive month amid rising foreign currency demand for import payments.

The inflow was 12.1% higher than the same month a year ago, according to the latest Bangladesh Bank data.

Monthly remittance earnings have remained below $3 billion since June, with industry insiders citing the impact of the ongoing conflict in the Middle East on expatriate workers’ incomes, employment and ability to send money home.

The sustained pressure on foreign exchange reserves comes as Bangladesh faces higher import payment obligations, particularly for oil and gas.

The growing demand for foreign currency has also put pressure on the exchange rate, with the interbank US dollar rate continuing to rise in recent days.

The weighted average interbank exchange rate stood at Tk124.30 per dollar on Sunday, up from Tk123.99, according to Bangladesh Bank data.

Despite remaining below the $3 billion threshold, remittance earnings maintained strong year-on-year growth during the first four months of the current fiscal year.

Between July and October 2026, the country received $11.465 billion, compared with $10.149 billion during the corresponding period of FY26. The inflow increased by $1.316 billion, or around 13%, year-on-year.