Over $3 billion (300 crore dollars) in remittances have been received in the first 24 days of March, raising the possibility of setting a new single-month record, according to the Bangladesh Bank.
Expatriate Bangladeshis residing in various countries sent 3.05 billion dollars to the country by 24 March.
This month included the holy Eid-ul-Fitr, and typically, the flow of remittances increases during the Eid months.
Expatriates send more money during this time to cover their families' Eid expenses.
According to the central bank, the highest remittance in the country's history came last March. At that time, expatriates sent a total of 3.29563 billion dollars to the country.
The second highest remittance came in December of the previous year, with 3.2266 billion dollars coming to the country. The third highest remittance came last January, amounting to 3.17 billion U.S. dollars.
Meanwhile, from July of the current 2025-26 fiscal year to 24 March, a total of 25.504 billion dollars has come in as remittances. This is 10.90 per cent more than the same period of the previous fiscal year, when remittances amounted to 21.238 billion dollars.
On the other hand, due to the Middle East crisis, the price of the dollar from remittances has increased. To manage the impending economic shocks from the Middle East crisis, eight leading economists have advised Bangladesh Bank to hold on to its reserves.
The economists stated that the extent of the crisis is not yet clear. If there's a global crisis, there will be pressure on reserves and the dollar. Therefore, reserves need to be maintained. Additionally, it is not the right time to alter policy interest rates to reduce interest rates. Once the impending pressure eases, initiatives can be taken to reduce interest rates to increase investment.
In a recent meeting with Bangladesh Bank, the economists gave these suggestions. They advised finding alternative sources for fuel instead of depending on the Middle East. Even if global market prices increase, they suggested not passing this on to consumers right away, as it would increase inflation.