Remittance surges 56.4% to $1.44 billion in 11 days of May

Published : Wednesday, 13 May, 2026 at 4:59 PM Count : 6

Bangladesh has witnessed a significant spike in remittance inflows during the first 11 days of May, recording a staggering 56.4 percent growth to US$ 1.44 billion compared to the same period of last year.

The surge bolsters the country's foreign exchange reserves and signals a robust upward trend in the fiscal year 2025-26.

According to the latest data from Bangladesh Bank, expatriates sent home US$1.44 billion in 11 days of May. In contrast, the remittance collection during the corresponding period in 2025 was $922 million.

On a single day on May 11, the country received $251 million in remittances, reflecting the increase of remittance in banking channels by the Bangladeshi migrant workers.

The year-to-date figures are equally impressive. Cumulative remittance inflows from July 2025 to May 11, 2026 reached $30.77 billion. This represents a 20.9 percent growth compared to the $25.45 billion received during the same period in the previous fiscal year FY2024-25 (July 2024 to May 11, 2025).

Senior central bank officials and economic analysts attribute this sustained growth to several strategic factors, including crackdown on hundi, incentives and digital integration.

Increased vigilance by law enforcement and the central bank against illegal hundi channels has redirected funds into the formal banking system.

The government’s 2.5 percent cash incentive, coupled with additional bonuses offered by several private commercial banks, has encouraged expatriates to send money via official routes.

The rapid adoption of mobile financial services (MFS) and real-time bank transfers has made the remittance process more accessible for workers abroad.

This influx of foreign currency comes at a critical time for the national economy.

The steady rise in remittances is expected to provide a much-needed foreign exchange for the country’s Balance of Payments (BoP) and stabilise the exchange rate of the Taka against the US Dollar.

"The 20% year-on-year growth is a clear indicator of the resilience of our migrant workers and the effectiveness of current policy interventions," noted a senior official at the Bangladesh Bank’s statistics department.

If this momentum continues through June, FY26 is projected to set a new historic milestone for remittance earnings, further strengthening the nation's economic backbone and its capacity to meet import obligations.

FP/MI