Bangladesh Receives Tk 25,768 Crore in Remittances During First 21 Days of July

Bangladesh received US$2.095 billion in remittances during the first 21 days of July, equivalent to approximately Tk 25,768.5 crore at an exchange rate of Tk 123 per US dollar, according to the Bangladesh Bank.

Bangladesh Bank spokesperson Arif Hossain Khan confirmed the figures on Wednesday. The central bank said expatriate Bangladeshis sent US$78 million on July 21 alone, amounting to around Tk 959.4 crore.

The latest data show a significant year-on-year increase in remittance inflows. During the first 21 days of July last year, the country received US$1.696 billion, meaning remittances have risen by 23.5% over the same period this year.

Economists attribute the steady growth to stronger use of formal banking channels, government incentives for expatriate workers and improved confidence in the country's financial system. They say the higher inflow will help strengthen Bangladesh's foreign exchange reserves, support import payments and improve overall macroeconomic stability.

The continued rise in remittance earnings is regarded as a positive indicator for the economy, with policymakers expecting the trend to provide additional support to external balances and the country's foreign currency reserves in the coming months