$2.56b remitted home in October, up by 7.0pc

Bangladesh's remittances rose to US$2.56 billion in October, recording a 7 per cent year-on-year growth and giving a fresh boost to the economy, reports UNB.

The growth rate slowed significantly compared to previous months in the current fiscal year, FY2025-26.

According to the latest data released by Bangladesh Bank, expatriates sent $2.56 billion in remittances in October 2025, up from $2.39 billion recorded in the corresponding month a year earlier.

However, the inflow for October was 4.54 per cent lower than the $2.68 billion remitted in September 2025.

The 7 per cent growth in October marks a deceleration from the stronger growth observed in the preceding months -- September by 12 per cent, August 9 per cent and July 30 per cent of the FY2025-26.

Despite the slowdown in the year-on-year growth rate for the month, the country has generally been witnessing a growing trend in remittance inflows since December last year.

The factors driving the uptrend of remittance attribute the sustained increase overseas in flows over the past year to a combination of factors:

Narrowing Exchange Rate Gap: A smaller difference between the official and informal (hundi) exchange rates has incentivised workers to use formal banking channels.

Crackdown on Money Laundering: Increased regulatory scrutiny and action against illegal money transfers have pushed remittances toward legal avenues.

Renewed Patriotism: A heightened sense of patriotism among expatriates following the political changeover last year has reportedly contributed to their decision to remit funds through official channels.