Bangladesh receives $2.5b in remittances in May

In May, expatriate Bangladeshis sent $2.25 billion in remittances to the country.

Bangladesh Bank's latest remittance update showed that the remittance in May is 10.29 percent higher than April.

According to data from the central bank, remittances in March amounted to $2.04 billion.

Experts suggest that remittance amounts from expatriates have risen due to the elevated dollar exchange rate, coinciding with the approaching Eid-ul-Azha. Consequently, the influx of remittances is experiencing significant growth.

Bangladesh Bank's data reveals that remittances from expatriates to Bangladesh amounted to $10.56 billion between January and May this year. Following multiple initiatives aimed at boosting bank remittance flows, Bangladesh experienced a $2 billion increase in remittances during this period