Remittance Hits $3.33 Billion in March, Boosts Bangladesh Reserves

Bangladesh’s remittance inflow remained strong in March 2026, reaching $3.33 billion in the first 28 days, driven by increased transfers ahead of Eid-ul-Fitr.

According to the Bangladesh Bank, the inflow marks a 3.8% increase from $3.2 billion received during the same period in March last year.

The steady inflow has helped strengthen the country’s foreign exchange reserves. As of March 29, gross reserves stood at $33.99 billion, while reserves calculated under IMF’s BPM6 standard were $29.29 billion.

Remittance performance has been particularly strong in the current fiscal year. Between July 2025 and March 28, 2026, total remittance reached $25.78 billion, up 18.8% from $21.69 billion in the same period of FY 2024–25.

Officials say the growth is largely due to the government’s 2.5% cash incentive for remittances sent through formal banking channels, which has reduced reliance on informal systems like hundi.

The surge was most notable in early March. Expatriates sent $2.20 billion in the first 14 days, a sharp 35.7% increase compared to $1.62 billion during the same period last year. Between March 16 and 23, remittance inflow remained steady, adding another $392 million.

Economists note that remittance typically rises during Ramadan, as non-resident Bangladeshis send more money to support family expenses during Eid. This seasonal trend has provided a timely boost to the economy.

The continued growth in remittance is helping stabilize foreign exchange reserves amid global economic pressure. Earlier, on March 16, reserves stood at $34.22 billion (gross) and $29.52 billion (BPM6).

Experts believe that if the current trend continues, total remittance for FY 2025–26 could reach a record high, supporting the stability of the Taka and easing pressure on the balance of payments.