Remittance Rate Surges to Tk 124 Per Dollar

Bangladesh saw a 37% year-on-year surge in remittance inflows in April, with migrant workers sending $2.6 billion in the first 29 days, up from $1.9 billion during the same period last year, according to Bangladesh Bank data.

Bangladesh’s foreign exchange reserves have surpassed $22 billion for the first time in several months, driven by a notable rise in remittances and export earnings. According to IMF standards, the reserves reached $22.04 billion

From July to April 29 of FY 2024-25, Bangladesh received $24.39 billion in remittances—already surpassing the total $23.91 billion recorded in the entire FY 2023-24, reflecting a 2% year-on-year growth, according to Bangladesh Bank data.

Bangladesh's trade competitiveness has improved as the taka depreciated against the US dollar in February 2025. In January, the taka was overvalued by Tk 3.67, but in February, this reduced to Tk 2.27, according to Bangladesh Bank calculations.

Bangladesh received $1.7 billion in remittances in the first 15 days of March 2025, with private commercial banks handling over two-thirds of transactions. Islami Bank Bangladesh PLC led with $305.93 million, followed by BRAC Bank ($91.13 million) and Trust Bank ($89.73 million).

Bangladesh’s foreign exchange reserve fell to $19.7 billion under IMF guidelines after a $1.75 billion payment to the Asian Clearing Union for January-February import bills, down from $21.39 billion on March 6. The Bangladesh Bank’s conventional valuation puts reserves at $24.95 billion.