Remittances Cross $2 Billion Mark in December’s First 21 Days.
Bangladesh received over $2 billion in remittances during the first 21 days of December 2024, according to the latest report from Bangladesh Bank. This amount, equivalent to more than Tk 24,000 crore at an exchange rate of Tk 120 per dollar, was sent through legal channels.
Record Daily Inflows
The daily average remittance inflow stood at $95.2 million (approximately Tk 1,142 crore). If this trend continues, December could see a record-breaking remittance inflow, significantly boosting the country’s foreign reserves.
Sources of Remittance
A breakdown of the $2.07 billion remittance inflow shows contributions through different banking channels:
- State-Owned Banks: $613.1 million
- Specialized Banks: $77.3 million
- Private Banks: $131.1 million
- Foreign Banks: $51.6 million
State-owned banks remain the dominant facilitators of remittance transfers.
Fiscal Year Overview
In the first five months of FY 2024-25 (July-November), Bangladesh received $11.37 billion in remittances.
Monthly breakdown:
- July: $1.91 billion
- August: $2.22 billion
- September: $2.47 billion
- October: $2.47 billion
- November: $2.2 billion
These figures underscore the continued contributions of expatriate workers to the national economy.
Historical Context and Future Outlook
The last fiscal year (2023-24) saw remittances of $23.92 billion, the second-highest in the country’s history, with the record set in FY 2020-21 at $24.77 billion.
With December’s performance shaping up to be remarkable, Bangladesh may surpass its historical remittance benchmarks, providing much-needed support to its economic stability.
This milestone reinforces the vital role of overseas Bangladeshis in strengthening the nation’s economy.
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