Bangladesh received $2.82 billion in remittance in June, marking the third-highest monthly inflow in its history and an 11% rise from $2.54 billion in June last year, according to Bangladesh Bank data. For the just-concluded fiscal year, remittance inflows totaled a record $30.32 billion, surpassing the previous high of $24.77 billion in FY21 by $5.54 billion.
The rising remittance has bolstered Bangladesh’s forex reserves, with gross reserves reaching $31.68 billion (or $26.66 billion under IMF’s BPM6) by June’s end. Bangladesh Bank spokesperson Arif Hossain Khan attributed the increase to tighter regulation curbing informal channels and the depreciation of the local currency under the market-centric exchange rate regime, encouraging remitters to use official channels.
