Bangladesh has recorded its highest-ever remittance earnings in a single fiscal year, with total inflows exceeding $31 billion as of June 28, 2025, according to data released by Bangladesh Bank.

The landmark figure offers a crucial boost to the country’s foreign exchange reserves, which have faced pressure amid ongoing macroeconomic challenges. The central bank reported that Bangladeshi expatriates sent home $2.54 billion in the first 28 days of June alone, marking a 7.1 per cent increase from the same period last year.

The current total surpasses the previous annual high of $24.77 billion in FY2021 by $5.28 billion. In the three fiscal years following that peak, remittance figures stood at $21.03 billion (FY22), $21.61 billion (FY23), and $23.91 billion (FY24), showing a consistent upward trend.

Central bank officials attribute the surge to a more stable exchange rate in recent months and a tighter regulatory stance on informal money transfer channels. These measures gained traction following a political transition last year that saw stricter enforcement against unauthorised remittance systems.

A senior official at the central bank, requesting anonymity, said the shift to a market-based exchange rate has made formal channels more attractive to remitters. “The depreciation of the taka against the dollar has incentivised the use of official platforms,” the official said.

As a result, the country’s gross foreign exchange reserves rose to $31.31 billion as of June 29 under standard calculation, and $26.32 billion under the IMF’s BPM6 framework. Net international reserves stood at $20.32 billion on the same date, reflecting improved liquidity.