Remittances reach $2.71bn in first 29 days of July

Bangladesh received $2.707 billion in remittances during the first 29 days of July, marking an 18.9 percent year-on-year increase, according to data released by the Bangladesh Bank on Thursday.

Bangladesh Bank spokesperson Arif Hossain Khan said expatriate Bangladeshis sent home $2.707 billion between July 1 and July 29, up from $2.276 billion during the same period last year.

The latest figures show that the country received an average of $93.3 million in remittances per day during the period.

In June, remittance inflows totaled $2.817 billion. Of that amount, $515.1 million was channeled through state-owned banks, $441.7 million through specialized banks, $1.853 billion through private commercial banks, and $6.6 million through foreign banks.

Earlier this year, Bangladesh received $3.425 billion in remittances in May, the second-highest monthly inflow in the country's history. March recorded a historic high of $3.755 billion, the highest monthly remittance inflow ever.

Remittance receipts also stood at $3.127 billion in April, $3.021 billion in February, and $3.171 billion in January.

According to Bangladesh Bank, expatriates sent a record $35.56 billion in remittances during the 2025-26 fiscal year, the highest annual inflow in the country's history.

Economists attribute the sustained growth in remittance inflows to government incentives for using formal banking channels, increased confidence among expatriate workers in the official financial system, and a decline in informal money transfer networks.