Expatriate Bangladeshis sent $2.97 billion in remittances through banking channels in May, marking the second-highest monthly total in the country’s history, according to the central bank. Bangladesh Bank spokesperson Arif Hossain Khan told reporters on Monday that remittances rose by nearly 32 percent in the first 11 months of the current fiscal year compared with the same period last year. Between July and May of the current fiscal year, remittances totalled $27.5 billion, up from $21.37 billion during the same period in the previous year, representing a 28.7 percent increase. Earlier this year, Bangladesh Bank adopted a market-based exchange rate for the US dollar. The IMF recently signalled its approval after negotiations over conditions, including exchange rate liberalisation.

Source: bd News24 June 01, 2025 20:21 UTC