Record-Breaking Remittance in March: Bangladesh Receives Over $3.33 Billion

This figure has already surpassed the previous all-time monthly record of $3.29 billion set in March last year, with three days still remaining in the month. Notably, this marks the fourth consecutive month where remittances have crossed the $3 billion threshold.

Banking experts attribute this surge to the upcoming Eid-ul-Fitr festivities and heightened concerns among expatriates in the Middle East due to the ongoing Iran-Israel conflict. This influx has significantly bolstered the country’s foreign exchange reserves, with gross reserves reaching $33.99 billion (BPM6: $29.30 billion). The steady flow of US dollars has also stabilized the exchange market, with the rate currently hovering around BDT 122.75. So far this fiscal year, total remittances have reached $25.78 billion, reflecting an 18.83% growth compared to the same period last year.