Economic Reporter //

The highest remittances in a single month in the country came in December, breaking all previous records. This month, expatriates sent $2.64 billion worth of money home, which is the highest since the country gained independence.

The highest remittances of $2.6 billion were received in a single month in July 2020. Due to the Corona pandemic, remittances increased through banking channels due to a decrease in demand for hundis.

The highest remittances were also received in 2024 on a year-on-year basis. Last year, $26.89 billion was received, compared to $21.92 billion the previous year. As a result, remittances increased by $4.97 billion, which is 22.69 percent. This much remittance has not been received in any recent year. The concerned parties said that remittances are increasing through banking channels due to various reasons, including the central bank’s strict stance after the change of government to prevent money laundering. Exports also grew by 12 percent until November.

According to Bangladesh Bank, foreign exchange reserves are increasing rapidly. After the addition of $500 million in loans from the Asian Development Bank (ADB), the reserves stood at $21.33 billion on December 29. The previous Sunday, it was $20.17 billion. Earlier, after paying $1.5 billion to the Asian Clearing Union (ACU) in September-October, the reserves fell to $18.46 billion on November 11. With this, $2.87 billion has been added to the reserves in one month and 18 days. The concerned parties said that another $1 billion will be added to the reserves from the World Bank soon.

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