Remittances reach $1.81b in 16 days, forex reserves rise to $34.53b

In the first 16 days of February, the country received 1.807 billion US dollars in remittances, which is 21 per cent more compared to the same period last year.

Meanwhile, due to the increase in remittances, Bangladesh Bank is purchasing dollars from banks. As a result, the total foreign currency reserves have increased to 34.53 billion dollars.

Bangladesh Bank provided this information yesterday, Tuesday.

According to the Central Bank's data, from 1 to 16 February in 2025, the remittance was 1.49 billion dollars.

During the same period this year, it increased to 1.807 billion dollars. Out of this, 152 million dollars alone came on 16 February.

As of Tuesday, the total foreign currency reserves at Bangladesh Bank increased to 34.53 billion dollars, which, according to the IMF''s BPM6 calculation method, stands at 29.85 billion dollars.

On 7 February, the reserves were 34.06 billion dollars, which according to the IMF''s BPM6 calculation method was 29.47 billion dollars.

In anticipation of the election, expatriates are remitting an average of 112.5 million dollars per day this month. Expatriate income or remittances have increased over the past two months around the election.

In the first month of this year, in January, remittances amounted to 3.17 billion dollars. In the previous month, December, 3.22 billion dollars were received.

Before that, in the five months preceding them, remittances were less than 3 billion dollars.

Several bank officials said that generally, more remittances come before the two Eids in the country.

Recently, remittances have increased primarily due to the upcoming election.

The highest remittances come from places where there is a larger Bangladeshi population.

Funds are often raised abroad for many candidates, which come into the country under the name of remittances.