BD remittances top $2bn in 18 days as Ramadan boosts inflows

Remittance inflows to Bangladesh have surpassed $2 billion within the first 18 days of February, reflecting a sharp rise in transfers from expatriate workers ahead of Ramadan and Eid.

Latest figures released by Bangladesh Bank on 19 February show that overseas Bangladeshis sent more than $2 billion during the period, maintaining a strong upward trend that could see total monthly remittances exceed $3 billion if the pace continues.

The surge follows a record-breaking start to the calendar year. In January 2026, remittance inflows reached $3.17 billion, ranking among the highest monthly totals in the country’s history. Only in March 2025, when transfers were boosted by Eid-ul-Fitr, were higher figures recorded in December 2025.

Data from the central bank indicate that remittances between 1 July and 18 February of the current 2025–26 fiscal year stood at $21.56 billion. This marks a 22.3 per cent increase compared with $17.63 billion received during the same period of the previous fiscal year.

Economists say the continued growth in remittances is providing critical support to Bangladesh’s foreign exchange position. As of 17 February, gross foreign exchange reserves were reported at $34.54 billion. Under the International Monetary Fund’s BPM6 accounting framework, net reserves were estimated at $29.86 billion.

Analysts attribute the recent acceleration in remittance flows to seasonal and structural factors. Demand for household spending typically rises during Ramadan, prompting migrant workers to send additional funds to support their families. At the same time, greater exchange rate stability and improved confidence in the banking system are believed to have encouraged expatriates to use formal channels rather than informal transfer networks.

Banking officials note that efforts to curb illegal hundi transactions have also contributed to stronger official inflows. Following political changes in August 2024, tighter oversight and a more stable dollar market appear to have reduced incentives to send money through unofficial routes.

Sustained remittance growth is seen as a key pillar of Bangladesh’s macroeconomic stability, helping to ease pressure on the balance of payments and strengthen the country’s capacity to manage external obligations.

If current trends continue through the remainder of February, remittances for the month could approach levels previously seen only during peak festive periods, reinforcing the importance of overseas workers to the national economy.