Remittances exceed $2 billion in first 23 days of February
In the first 23 days of this February, Bangladeshi expatriates working in different countries have sent more than $2 billion in remittances. The windfall in expatriate income has been increasing every month since the mass uprising. There is no record of such a large amount of remittances coming in such a short time before.
Those concerned say that if this trend continues, a new record may be set in the remittance flow in February. Because, the highest remittance in the country’s history of $2.64 billion was received in December on a monthly basis. It may be surpassed in February.
In the 23 days of this February, $2.7 billion or $2076 million in remittances came into the country. In local currency (based on 122 taka per dollar), the amount is more than 25,327 crore taka, according to the relevant department of the Central Bank.
With this, remittances will exceed $2 billion for seven consecutive months from August, the second month of the fiscal year.
Earlier, $1913.77 million in remittances came in July, the first month of the fiscal year. In August, $222.132 billion was received, in September, $240.41 billion, in October, $239.50 billion, in November, a record $2.64 billion in December, and in January, $2.19 billion in remittances.
Last December, the highest remittance in the country’s history was $2.64 billion or $2.639 billion. The amount in local currency is more than Tk 31,668 billion. Never before has such a large amount of remittances been received in a single month. Previously, in July 2020, during the Corona period, $2.59 billion in remittances were received. This record was broken this time in the month of victory in December 2024.
According to Bangladesh Bank data, remittances received during the entire period of December, the last month of 2024, were about $2.64 billion. Which is $648 million more than the same period last year. Last year (2023) received $199.10 billion in December. Except for July 2024, remittances received more than two billion dollars in the remaining 11 months.
Meanwhile, the country’s foreign exchange reserves are increasing, relying on remittances or expatriate income. Currently, the reserves have increased to about 21 billion (20.85 billion) dollars.
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