Remittances surpass $10 billion in first four months of FY

The upward trend in remittances from expatriate Bangladeshis persists. From July to October in the current fiscal year, inflows have topped $10 billion, totalling $11.5 billion. 

This marks a 13.56% increase compared to $8.94 billion received in the same period of the previous fiscal year.

The latest Bangladesh Bank update, released on Sunday, confirms the figures.

Since the collapse of the previous government, authorities have intensified efforts to curb money laundering. This has diminished hundi transactions, channeling more expatriate earnings through official banking systems. 

Alongside robust remittances, export earnings are rising: up 5.64% in the first three months of the current fiscal year, following an 8% growth in the prior year.

Foreign debt stood at $11.216 billion as of end-June. Overall, heightened foreign currency inflows have stabilised the dollar at Tk122–Tk123. This exchange rate steadiness, coupled with no import dollar shortages, is cited as a key factor in recent inflation moderation.