Money laundering from Bangladesh has declined, curbing the prevalence of informal money transfer systems like hundi. As a result, remittances sent through legal channels have seen a notable rise. Just ahead of Eid-ul-Azha, this surge in remittance has brought a wave of relief to the country’s economy.
In only three days (June 1–3), expatriates sent home $604 million in remittances — equivalent to over BDT 7,429 crore, assuming an exchange rate of 123 taka per dollar — according to the latest data from Bangladesh Bank.
Officials from the central bank explained that remittance inflow typically increases ahead of Eid-ul-Azha as expatriates send more money home to cover expenses related to sacrificial animals, new clothes, gifts, and family celebrations. This year has followed that trend, with a significant boost in inflows observed.
In May, Bangladesh recorded the second-highest monthly remittance in its history, receiving $2.97 billion (approximately BDT 36,234 crore at an exchange rate of 122 taka per dollar). On average, this translates to a daily inflow of $95.8 million or BDT 1,169 crore. This figure surpassed April’s record, making May the second-best month for remittances, only behind March 2025, when the highest-ever $3.29 billion was received.
Bangladesh Bank data also reveals that monthly remittance has consistently exceeded $2 billion since the caretaker government assumed office. In the current fiscal year (July to May), total remittances stand at $27.5 billion — a significant increase from the $21.37 billion received during the same period last fiscal year. This marks a year-on-year growth of $6.13 billion.
