Expatriates remitted 3.29 billion USD into Bangladesh in March

Bangladesh has received an unprecedented $3.29 billion as remittances in March 2025, making it the highest remittance inflow for a single month in the country's history.

The amount marks a 64% year-on-year increase as the country had received $1.99 billion in remittances in the same period during 2024, updated data from Bangladesh Bank shows.

Bangladesh received $2.53 billion in remittances in February 2025, which made it the then fourth-highest monthly inflow in the country's history.

Bangladesh had earlier recorded its highest-ever monthly remittance inflow of $2.64 billion in December 2024.

A total of $2.59 billion was recorded in July 2020 and $2.54 billion was recorded in June 2024, facts and figures from the central bank unfolded.

Bankers say the remittance inflow witnessed a sharp rise of this high surge due to expatriates sending more money to their families marking the holy month of Ramadan and Eid-Ul-Fitr.

Previously, the bankers said a huge amount of money used to come through hundi channels but since August 2024 the largest portion of remittances from expatriate Bangladeshis have been entering Bangladesh through authorized banking channels.

However, now the variation in interest rates between the open market and banking channels has  decreased which strongly encourages expatriates to send remittances through the banking system.

Remittances to Bangladesh are money transfers sent by the Bangladeshi diaspora to Bangladesh. According to the World Bank, Bangladesh is the 7th highest recipient of remittances in the world with almost $22.1 billion in 2021 and was the third highest recipient of remittances in South Asia.These transfers play a significant role in the Bangladeshi economy, contributing substantially to the country's foreign exchange reserves and national income. A survey on remittance usage conducted by the Bangladesh Bureau of Statistics in 2013 showed that 32.81% and 32.82% of the remittances are used for food and non-food expenditures. 18.84% of remittances were used for durable and other expenses including 17.39% utilised for the purchase of land. In regards to investment and savings, the Bangladesh Bureau of Statistics revealed that 33.45% of remittances go to investment and 13.74% of remittances goes to savings. Presently, the World Bank stands as the foremost external financier for Bangladesh. The determination to sustain funding is rooted in Bangladesh's remarkable accomplishments and the essential measures needed to sustain its advancement towards the objective of attaining upper-middle-income status by 2031.