Bangladesh received $2.22 billion in remittances in the month of August, 39% higher year-on-year (YoY), according to Bangladesh Bank data.
In August 2023, Bangladeshi people working abroad sent $1.6 billion in remittances, the central bank data showed.
Compared to July 2024, when the country received $1.91 billion, the August remittances were up by 16%.
Banks were closed on July 19-23 due to the situation caused by the students' movement, public and general holidays. Apart from this, broadband internet was off for five consecutive days and mobile internet was off for 11 days.
As a result, foreign transactions with the country's banks were almost stopped.
But renewed vigor in the form of the new government inspired expatriates to remit money back home, which resulted in the eventual spike.