Bangladesh received $23.92 billion in inward remittances in the fiscal year 2023-24 (FY24), according to data released by the central bank today (1 July).
This includes a record $2.542 billion in June, the highest monthly inflow in 47 months.
"In June, remittances totalled $2.542 billion. This is the highest in the last 47 months," said Bangladesh Bank spokesperson Md Mezbaul Haque.
The BB official attributed it to expatriates sending more money home for Eid-ul-Adha.
FY24 also saw the highest annual remittance inflow in the last three fiscal years, he said.
Bangladesh has experienced a steady rise in remittances, with earnings surpassing $2 billion consecutively in June, May, and April.
The Bangladesh Bank's decision to raise the dollar exchange rate to Tk117 has also contributed to the increased remittance inflow, said Mezbaul.
In May, the country received $2.254 billion in remittances, following $2.043 billion in April, $1.996 billion in March, $2.166 billion in February, and $2.100 billion in January.
Additionally, expatriate Bangladeshis sent $1.989 billion in last December.
The preceding months saw remittances of $1.934 billion in November, $1.971 billion in October, $1.334 billion in September, $1.599 billion in August, and $1.973 billion in July.
