Staff Correspondent:

Bangladesh received a record $3.29 billion in remittances in March, marking a 65 percent year-on-year rise, driven largely by the Eid-ul-Fitr festival, central bank data showed.

From March 27 to 31, remittances worth $345 million flowed into Bangladesh.

In the first 26 days of March alone, remittance inflows stood at $2.94 billion, already surpassing previous monthly records.

From July to March of the current fiscal year, total remittances stood at $21.77 billion, up from $16.69 billion during the same period a year ago.

The upward trend began in September, when inflows surged 80.28 percent year-on-year to $2.4 billion.

The momentum continued over the following months, with $2.39 billion in October, $2.19 billion in November, $2.63 billion in December, $2.18 billion in January, and $2.52 billion in February.

The sustained increase in remittances has helped ease pressure on the country’s foreign exchange market, with improved liquidity reflected in banks’ net open positions.