Remittance inflow tops $2b for second straight month in May

Receipts rise 10% year-on-year in the fiscal year to date

Monthly remittances sent by expatriates surged past $2 billion till 29 May, marking the second consecutive month of over $2 billion receipts, with two days still remaining in the month.

With the $2.14 billion in remittance earnings, the current fiscal year (FY2024) has made a 10% jump in 11 months from the same period of last fiscal year. A fiscal starts on 1 July in Bangladesh.

In April, remittances hit $2.04 billion due to the Eid festival.

Remittance inflow has also got a boost from the Bangladesh Bank introducing crawling mid-peg on 8 May and endorsing the Tk117 per dollar rate.