Remittance into Bangladesh skyrocketed by $1.07 billion in September, marking an 80.22% year-on-year increase.
According to Bangladesh Bank data, total remittances in September of the current FY25 reached $2.40 billion, a large increase from $1.33 billion in the same month of the previous FY24.
Additionally, remittances in September rose by $180 million compared to the previous month.
September's receipts were 8.12% higher than the previous month, central bank data also showed.
In the July to September period of this fiscal year, Bangladeshi expatriates sent $6.54 billion, up by 33.3% from the same period of the previous fiscal.
This surge indicates a growing trend of expatriates utilizing formal banking channels to send money to Bangladesh.
The foreign exchange reserves have increased and gained stability as the inflow of remittances increased, the Bangladesh Bank said last month.
