Staff Correspondent:

Bangladesh’s remittance inflow witnessed a remarkable year-on-year growth of a whopping 78.57% to $2.25 billion in the first 20 days of the ongoing March.

Last year, the country logged a total of $1.26 billion during the same period, Bangladesh Bank Spokesperson Arif Hossain Khan informed reporters on Thursday (March 20).

Bankers say the remittance inflow witnessed a shot up this high surge due to expatriates sending more money to their families marking the holy month of Ramadan and the upcoming Eid-ul-Fitr.

Previously, the bankers said a huge amount of money used to come through hundi channels.

But now the difference in interest between the open market and banking channels has narrowed, prompting expatriates to send remittances through banking channels.

According to central bank data, expatriates have sent remittances of $20.74 billion during the July 2024 – 19 March 2025 of the current fiscal year, which was only $16.33 billion during the same period of the previous fiscal year.

Accordingly, remittances have increased by $4.41 billion or 26.9% in a span of about nine months.