Bangladesh receives nearly $1 bn in remittances in early June

Bangladesh received nearly $979 million in remittances during the first eight days of June, marking a 7.92% increase from the same period a year earlier, according to Bangladesh Bank data.

Remittance inflows totaled $979.09 million between June 1 and June 8, equivalent to about Tk 120.18 billion at an exchange rate of Tk 122.75 per U.S. dollar, Bangladesh Bank spokesperson Arif Hossain Khan said on Tuesday. Of the total, expatriate Bangladeshis sent Tk 13.25 billion on June 8 alone.

The latest figures show continued growth in remittance earnings, which economists say has helped support the country's foreign exchange reserves and broader economic stability. During the same period last year, Bangladesh received $907.2 million in remittances.

Data from the central bank showed that cumulative remittance inflows reached $33.74 billion between July 1 and June 8 of the current fiscal year, up 18.73% from $28.41 billion recorded during the corresponding period of the previous fiscal year.

Read More: Govt to cut essential taxes, raise duties on luxury goods in FY27

Analysts attribute the increase to exchange rates becoming more aligned with market conditions and policy incentives encouraging expatriates to use formal banking channels. They expect remittance inflows to remain strong in the run-up to Eid al-Adha, providing further support to the country's external sector.