Migrant Remittances Surpass $2 Billion in Just Seventeen Days

Bangladesh has witnessed an unprecedented surge in migrant remittances this December, with funds sent home by overseas Bangladeshis surpassing $2 billion within the first seventeen days of the month. If this remarkable trend continues, analysts predict that total remittances for December could exceed $3 billion, making it one of the most lucrative months in the nation’s history.

The steady inflow of remittances has also contributed to a healthy increase in Bangladesh Bank’s foreign currency reserves, which reached $32.57 billion (approximately 3,257 crore BDT) on Thursday. This upward trend in reserves is largely attributed to the central bank’s strategic purchases of dollars combined with sustained foreign currency inflows from expatriates.

Governor Ahsan H. Mansur recently emphasised that by the end of December, reserves are projected to reach $34–35 billion. Importantly, he highlighted that this growth is achieved entirely through domestic purchases of dollars, without recourse to international loans or aid, which he described as a “prudent and sustainable approach” for national financial stability.

According to official data from Bangladesh Bank:

From July to 17 December, remittances amounted to $15.05 billion, reflecting a 16.7% increase compared to the same period last year. November alone saw inflows of $2.8895 billion, demonstrating the sustained strength of expatriate contributions. Overall, the 2024–25 fiscal year has already recorded $30.33 billion in remittances, a substantial rise from $23.91 billion in the previous fiscal year.

Experts note that targeted measures by the government and Bangladesh Bank—particularly initiatives to curb informal ‘hundi’ channels and provide incentives for official banking transfers—have played a key role in encouraging overseas workers to remit funds through formal channels. This strategy has not only bolstered remittance flows but also strengthened the country’s foreign exchange reserves, providing a reliable buffer against potential global financial shocks.

Historically, March 2025 set a record for single-month remittances, with $3.29 billion received, the highest ever in Bangladesh’s history for any month. Since then, monthly remittances have consistently remained strong, generally exceeding $3 billion when extrapolated. Analysts predict that December 2025 could surpass this record, driven by year-end transfers from expatriates eager to support family and community projects at home.

The sustained growth in migrant remittances has far-reaching implications. It not only strengthens national reserves but also supports domestic consumption, investment, and development initiatives. With continued strategic oversight and supportive policies, Bangladesh is poised to maintain this positive trajectory, enhancing both economic stability and global confidence in its financial system.