In the recently concluded month of June, Bangladesh received 2.806 billion US dollars in remittances. Based on this, an average of 93.5 million dollars in remittances arrived daily. Bangladesh Bank spokesperson Arif Hossain Khan provided this information on Wednesday (July 1).
It was reported that 2.806 billion US dollars in remittances arrived in the country in June. In the same period last year, the amount was 2.823 billion dollars.
Earlier, the reserve last fell below 37 billion dollars in mid-September 2022. From there, it steadily declined, reaching 25.92 billion dollars by August 2024, at the time of the Awami League’s fall. On June 14, after the addition of a 1 billion dollar loan from ADB, it had crossed the 31 billion dollar mark. Adhering to the conditions of the IMF loan, the central bank has been publishing reserve calculations according to BPM6 since June 2023. According to this calculation, the reserve at that time was 24.75 billion dollars.
In Bangladesh’s history, the reserve surpassed the milestone of 48 billion dollars in August 2021. However, due to various reasons, including increased money laundering, it rapidly started to decline from there. Concurrently, during that period, the dollar exchange rate surged from 84 Taka to 120 Taka. At the time of the Awami League government’s fall, the reserve, according to BPM6, dropped to 20.48 billion dollars.
Since August 2024, there has been a high inflow of remittances through banking channels. From the beginning of the current fiscal year until June 28, a total of 35.34 billion dollars in remittances has arrived through banking channels. This is 5.30 billion dollars or 17.62 percent higher compared to the same period of the previous fiscal year. In the last fiscal year, remittances increased by approximately 27 percent. This has brought temporary relief to the foreign exchange market.