United News of Bangladesh

Bangladesh has received US $1.61 billion in inward remittances during the first 17 days of May, marking a robust flow of foreign currency from expatriate workers, according to a revised update from Bangladesh Bank. The data shows that remittances during this period averaged $94.70 million per day, significantly higher than the $75.1 million daily average recorded in May 2024. A breakdown of the remittance sources reveals that $493.3 million came through state-owned banks, while two specialised state-owned (agricultural) banks channelled $159.9 million. Private commercial banks facilitated $962.7 million of the total, and foreign banks brought in $313.0 million. Among all banks, Islami Bank registered the highest remittance inflow, receiving $277.8 million. From July 2024 to 17 May 2025—within the current fiscal year FY 2024–25—Bangladesh has received a record $26.14 billion in remittances. This figure surpasses the total of $23.91 billion received during the entire FY 2023–24. Reserves breach $22 bn-mark on back of strong currency, remittances Expatriates have already sent $24.54 billion between July and April of FY 2024–25, which exceeds the previous fiscal year’s full-year figure. Monthly inflows over this ten-month period reflect consistent growth: April: $2.75 billion March: $3.29 billion February: $2.53 billion January: $2.19 billion December: $2.64 billion November: $2.2 billion October: $2.39 billion September: $2.4 billion August: $2.22 billion July: $1.91 billion The steady rise in remittance inflow continues to bolster Bangladesh's foreign exchange reserves and contributes significantly to the national economy, experts said.

Bangladesh’s gross foreign exchange reserves on Tuesday (May 6) stood at $27.44 billion, according to Bangladesh Bank. By the more commonly used and accepted reserve calculation around the world, that excludes "encumbered reserves", the reserve figure is $22.06 billion, after paying different payments and energy bills. It has climbed back up past $22 billion after 7 months. The foreign exchange reserve is gaining stability gradually after the political changeover on August 5, 2024, as trust rebounds in the economy and banking system. In the first 10 months of the current fiscal year 2024-25 (July to April), the total inward remittance is $24.54 billion. In comparison, the remittance inflow during the corresponding period of the previous fiscal year (FY2023- 24) was $19.11 billion. This indicates a growth of 28.3 percent in remittance flow during this time. Analysts believe that this continued momentum in expatriate income, even after Eid-ul-Fitr, brings relief to the country's economy. March already saw a record $3.29 billion in remittances, the highest ever in a single month in the country's history. Dollar rate for remittance soars as banks compete for overdue payments Ahead of Eid-ul-Adha, Bangladesh expected another record of inward remittance. So the reserve and exchange rate of the dollar get stability. At the same time, local currency taka is strengthening gradually. Notably, every month of the current fiscal year (FY2024- 25) has seen remittances exceeding $2 billion, reflecting the trust of migrant workers in formal banking channels. According to Bangladesh Bank, the exchange rate of the US dollar is decreasing against the taka due to reduced pressure to pay import bills. Bankers believe the price may fall further in the coming days. In the last week of April, banks had to pay between Tk 122.50 and Tk 122.60 to purchase remittance. In contrast, even in the second week of April, banks were paying between Tk 123 and Tk 123.20 for the same. This indicates a decrease of Tk0.50 to Tk0.70 in the dollar's price within two weeks in April.

Bangladesh witnessed a notable surge in remittance inflows in April, with expatriates sending US$2.75 billion, marking the second-highest monthly remittance in the country’s history. According to data from Bangladesh Bank, $144 million was received on April 30 alone. The total remittance inflow for the month (April 1–30) reflects a significant 34.6 percent increase compared to the same period last year. In the first 10 months of the current fiscal year 2024–25 (July to April), Bangladesh received a total of $24.54 billion in remittances. By comparison, the inflow during the same period of the previous fiscal year (FY2023–24) was $19.11 billion, showing a 28.3 percent year-on-year growth. Analysts note that the continued strong performance of remittance earnings, even after Eid-ul-Fitr, is a welcome boost to the country’s economy. Bangladesh received $2.61 billion remittance in 29 days of April March recorded an all-time high of $3.29 billion in monthly remittances. Notably, every month of the current fiscal year has seen remittance inflows exceeding $2 billion, underscoring migrant workers' growing confidence in formal banking channels. According to central bank sources, this upward trend is being driven by government incentives, strict enforcement against illegal money transfers (hundi), and the availability of convenient banking services for expatriates. In parallel, a steady exchange rate of Tk 122 per US dollar and positive export growth have also contributed to the encouraging trend. Bangladesh’s gross foreign exchange reserves reached a record high of $48.06 billion in August 2022. But, due to political instability and heavy dollar sales, the reserves declined to $20.39 billion by mid-2024. Since the interim government assumed office, Bangladesh Bank has shifted from selling dollars to purchasing them from the market, which is aiding the recovery of reserves. Economists believe that the ongoing rise in remittance flows will contribute to macroeconomic stability and reduce the country’s reliance on foreign loans. The remittance figures for the first 10 months of FY2024–25 are as follows: April: $2.75 billion March: $3.29 billion February: $2.53 billion January: $2.19 billion December: $2.64 billion November: $2.20 billion October: $2.39 billion September: $2.40 billion August: $2.22 billion July: $1.91 billion

Bangladesh received US$ $2.61 billion remittances in 29 days of the current month, April. At the same period of the previous year, the expatriates sent $1.91 billion remittance. Expatriates sent $1.78 billion in remittances in first 19 days of April According to the latest report of Bangladesh Bank, in the first 29 days of April expatriates sent $2.61 billion remittance. The remittance inward trend saw a growth by 36.6 percent in 29 days of April 2025, compared with April 2024. Bangladesh so far (till April 29) received $24.39 billion remittance, which is already higher than what was received during the entire 2023-24 fiscal.

Bangladesh lost an estimated Tk 226,236 crore in tax revenue in 2023 due to evasion and avoidance, driven by the lack of a fully digitalised tax system. This finding was revealed in a study report of the think tank the Centre for Policy Dialogue (CPD) unveiled on Monday. On the occasion, the research organisation a briefing on corporate income tax reform for graduating Bangladesh at the CPD office in Dhanmondi, Dhaka. Now US could collect over $1 billion in tariffs from Bangladeshi goods: CPD study The CPD study estimated that around 50 percent has been lost to corporate tax evasion. The estimated corporate tax evasion in 2023 would be roughly Tk 113,118 crore. The global trend in corporate income tax (CIT) has declined in recent years, dropping from 27.5 percent in 2006 to about 23.6 percent in 2016. Many developing countries maintain standard CIT rates of 25%, 30%, or higher; for instance, China has a CIT rate of 25 percent, Malaysia 24 percent, Indonesia 22 percent, Pakistan 29 percent and Myanmar 22 percent. Some developing countries offer significantly lower CIT rates, such as Oman and Uzbekistan at 15 percent, and Paraguay and Kyrgyzstan at 10 percent. Tax Structure of Developing Countries and LDCs Country Group CIT Rate Global Trend (2006-2016) 27.5% (2006) to 23.6% (2016) Developing Countries 22%-29% Least Developed Countries (LDCs) 10%-35% Graduated LDCs 21%-35%.

The strong inflow of remittances has continued into April, with expatriates sending $1.78 billion in the first 19 days of the month. This follows a record-breaking $3.29 billion received in March. Bangladesh Bank’s latest update revealed that Bangladeshi expatriates have sent around US$ 1.72 billion in inward remittance in 1-19 days of April. In April last year, the expatriates sent $2.04 billion remittance, while in the 19 days of April this year sent $1.78 billion remittance. Accordingly, Bangladesh received $90.45 million remittance so far in each day of April. The state-owned commercial banks received a total of $639.7 million, two specialised banks received $90.26 million, private banks received $985.42 millio,n and foreign banks received $3.35 million. Among the banks, Solani Bank Plc received the highest $278.09 million, Islami Bank Bangladesh PLC received the second highest $266.88 million, and Agrani Bank PLC received the third highest 183.41 million in 19 days of April. Bangladesh received $1.05 billion in remittances in first 12 days of April The expertise sent $21.77 billion remittance in the 9 months (July-March) of the current fiscal year FY2024- 25. On the other hand, remittances of $17.07 billion were received in the first 9 months of the previous FY2023- 24. March $3.29 billion February $2.53 billion. January $2.19 billion December $2.64 billion November $2.2 billion October $2.39 billion September $2.4 billion August $2.22 billion In July $ 1.91 billion

Bangladesh received remittances amounting to US$1.05 billion in the first 12 days of April, according to the latest data released by Bangladesh Bank. This amount reflects a daily average remittance of $87.69 million sent by expatriates during the period. While the flow remains significant, it marks a slight decline compared to the same timeframe in March, when the country recorded its highest remittance inflow in recent months. Bangladesh receives $18.49 billion in remittances over 8 months In March, remittances totalled $3.29 billion, averaging $109.85 million per day. Despite the dip, remittance continues to be a key source of foreign currency for the country’s economy, experts said.

Bangladeshi expatriates sent $2.52 billion in remittances in February 2025, marking a 25 percent year-on-year growth compared to February 2024, when the figure stood at $2.02 billion. From July 2024 to February 2025, the total remittance inflow reached $18.49 billion, compared to $14.93 billion during the same period in the previous fiscal year—an increase of 23.8 percent. Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan made disclosure on Sunday. Monthly Breakdown of Remittances in FY 2024-25: July: $1.91 billion August: $2.22 billion September: $2.4 billion $2.25 billion received in remittances in May, up 10.3% over April October: $2.39 billion November: $2.2 billion December: $2.64 billion January: $2.19 billion February: $2.52 billion According to the central bank, remittance inflows saw a notable rise following the political transition on August 5, 2024. Remittance inflow stands at Tk 16,008.84 crore in first half of Feb Arif Hossain Khan attributed the growth to expatriates increasingly using banking channels to send money home, incentivised by instant bonuses and secure transactions. “The central bank always encourages remitters to send their hard-earned money through secure banking channels,” he said.

Bangladesh received USD 1,312.22 million (Tk 16,008.84 crore) in remittance during the first 15 days of February, according to the latest data from Bangladesh Bank. This marks an average daily inflow of USD 87.4 million (Tk 1,065.08 crore). State-owned banks accounted for USD 466.55 million (Tk 5,693.91 crore) of the total remittance, while specialised banks facilitated USD 88.79 million (Tk 1,083.24 crore). Private commercial banks received the highest share, bringing in USD 753.9 million (Tk 9,197.58 crore), whereas foreign banks handled only USD 3 million (Tk 36.6 crore). Dollar rate for remittance soars as banks compete for overdue payments On 1 February alone, Bangladesh recorded a remittance inflow of USD 186.4 million (Tk 2,274.08 crore). During the week from 2 to 8 February, expatriates sent USD 652.32 million (Tk 7,967.10 crore), while the following week, from 9 to 15 February, saw an inflow of USD 641.27 million (Tk 7,827.99 crore). The steady remittance flow remains a crucial source of foreign exchange for the country, aiding in stabilising the economy amid external financial challenges.

The US dollar rate for remittances has risen again by 50 basis points, reaching Tk 122.5. Officials from various banks said that over the past two weeks, the price of the dollar has increased by at least 50 basis points, now standing at Tk 122.5 per dollar. After a brief period of stability in the foreign exchange market, the remittance dollar rate has surged due to mounting pressure from overdue import payments. BB-Dollar: Taka loses 12.72% value in 2024 as dollar strengthens Despite this, banks continue to officially display the dollar price at Tk 122, as per Bangladesh Bank’s directive. In late December, the central bank verbally instructed banks to cap the maximum buying and selling rate for remittance dollars at Tk 122. It also mandated that the difference between buying and selling rates must not exceed Tk 1, warning of fines for non-compliance. Bangladesh Bank identifies reasons behind increased dollar demand A senior official of a private bank told UNB that the remittance dollar rate had remained between Tk 121.5 and Tk 122 in line with central bank’s instructions. However, with overdue import payments piling up, competition among banks to secure dollars has intensified, leading some banks to purchase remittance dollars at a higher price. At a meeting on Monday (Jan 27), the central bank directed banks to expedite payments for all overdue import liabilities and back-to-back letters of credit (LCs). This directive, issued during a meeting of the Authorised Dealers Forum, further escalated dollar demand. Following this, the remittance dollar rate surged, rising by at least 50 basis points to reach Tk 122.5 per dollar.