Remittance rises 30% in July

Bangladesh's remittance inflow rose 30 percent year-on-year to $2.47 billion in July, the first month of the current fiscal year.

In the same month last year, migrant Bangladeshis sent home $1.91 billion, according to Bangladesh Bank data.

However, this year July's remittance figure was 12.22 percent lower than the previous month, as remitters sent more money to their families in June due to Eid-ul-Azha.

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Remittance flows over $30 billion in FY25

Industry insiders said the surge in remittance inflow in recent months is being credited to a combination of factors, such as a narrowing gap between official and informal exchange rates, a clampdown on money laundering, and a renewed sense of patriotism among Bangladeshis living abroad after the political changeover in August last year.

A BB official said hundi, an illegal cross-border transaction system, declined—likely due to the political transition—leading to more remittance inflows being directed through official channels.