Expatriate Bangladeshis have sent over $2 billion in remittances during the first 18 days of February, as money transfers surged ahead of Ramadan and Eid.

According to data released by Bangladesh Bank on Thursday (Feb 19), if this upward trend continues, total remittances for the month are expected to cross the $3 billion milestone.

Central bank statistics show that January 2026 saw an inflow of $3.17 billion, marking it as the third-highest monthly total in the country's history. The current fiscal year (FY 2025–26) has shown robust growth, with total remittances reaching $21.56 billion between July 1 and February 18.

This represents a significant 22.3 percent increase compared to the $17.63 billion received during the same period of last fiscal year 2024-25.

The historical peaks for monthly remittances remain:

$3.29 billion (March 2025 – fueled by Eid-ul-Fitr)

$3.22 billion (December 2025)

$3.17 billion (January 2026)

Bangladesh’s forex reserves surge past $34 billion driven by remittance boom

Impact on Reserves

Economists believe the surge in formal channel transfers is a result of a stabilized exchange rate and a decrease in illegal hundi activities following the political transition in August 2024. This influx is providing a much-needed boost to the nation's foreign exchange reserves.

As of February 17, the country's gross reserves stood at $34.54 billion. However, according to the IMF’s BPM-6 calculation method, the net reserves are currently valued at $29.86 billion.

Banking officials and experts point to two primary drivers:

Ramadan Preparation: Families in Bangladesh face higher expenses during Ramadan, prompting expatriates to send more money home.

Increased confidence in the banking sector and a stable dollar rate have encouraged migrants to shun illegal channels in favor of official ones.