Inward remittance flows to Bangladesh through legal channels maintained a strong positive trajectory in May, with expatriate workers sending home $3.425 billion.
According to official data released by the Bangladesh Bank, the figure marks a 15.34% increase compared to the $2.969 billion received during the same period last year, offering much-needed relief to the country's foreign exchange reserves and macroeconomic stability.
A late-month surge significantly boosted the final tally. In the final eight days of the month alone—spanning May 24 to May 31—the country pulled in $448.97 million, pushing the total monthly intake to $3.425 billion, up by approximately $455.6 million year-on-year.
The cumulative data for the first 11 months of the current FY26 (July–May) indicates an even stronger upward trend.
Total remittance inflows reached $32.757 billion, compared to $27.507 billion during the corresponding period of the previous fiscal year.
This represents an absolute increase of nearly $5.25 billion, yielding a year-on-year growth rate of 19.09%.
Central bank officials and industry insiders attribute the sustained growth to a combination of stricter regulatory oversight and market mechanisms.
Key drivers include heightened surveillance against illegal hundi (informal money transfer) networks, ongoing government incentives for legal channels, modernized banking infrastructure, and an expanding migrant workforce.
Furthermore, competitive exchange rates offered by local commercial banks have heavily incentivized expatriates to utilize formal banking channels.
Economists emphasize that alongside export earnings, remittances remain a vital source of foreign currency for Bangladesh.
The current robust inflows are playing a critical role in rebuilding diminished foreign exchange reserves, settling international import bills, and stabilizing the dollar market.
Analysts project that if the current momentum persists through June, total remittance earnings for FY26 will hit a historic high, providing significant support to the country's balance of payments.