Remittance surges 37% in April

Remittance inflow surged by 37 percent in April as migrant workers opted for formal channels to send money home.

Between April 1 and April 29, migrant workers sent $2.6 billion, up from $1.9 billion during the same period a year ago, according to data from the Bangladesh Bank (BB).

Including April's inflow, migrant workers and non-resident Bangladeshis living abroad sent $24.39 billion in the first 10 months of the 2024-25 fiscal year, marking a 28.5 percent year-on-year increase.

This has helped Bangladesh gradually recover from the forex crisis that strained its foreign exchange reserves and put pressure on the balance of payments—a summary of a country's transactions with the rest of the world.

After several months, foreign exchange reserves reached $22 billion this week.