Bangladesh’s remittance inflow rose 30 percent year-on-year as expatriates from all over the world sent $2.47 billion to the country in July, the first month of the current fiscal year. Which is approximately Tk 30,230 crore in Bangladeshi currency (Tk 122 per USD).
In the same month last year, migrant Bangladeshis sent home $1.91 billion, according to the latest Bangladesh Bank (BB) data.

However, this year, July’s remittance figure was 12.22 percent lower than the previous month, as remitters sent more money to their families in June due to Eid-ul-Azha.

Industry insiders said the surge in remittance inflow in recent months is being credited to a combination of factors, such as a narrowing gap between official and informal exchange rates, a clampdown on money laundering, and a renewed sense of patriotism among Bangladeshis living abroad after the political changeover in August last year.

A BB official said hundi, an illegal cross-border transaction system, declined—likely due to the political transition—leading to more remittance inflows being directed through official channels.