Remittance Inflow Declines in January

Economic Desk

In the first 25 days of January, Bangladesh received $1.6759 billion in remittances, equivalent to approximately Tk 20,446 crore (at Tk 122 per USD). On average, the country received $6.7 million per day during this period.

The latest data released by the Bangladesh Bank on Sunday, January 26, revealed this information.

According to the report, remittance inflows in the first 25 days of January decreased compared to December 2023. In December, remittances during the same period amounted to $2.16 billion.

A breakdown of January’s remittance inflows shows that state-owned banks received $354.3 million, specialized banks received $74.4 million, private banks received $1.2425 billion, and foreign banks received $4.8 million.

Weekly variations in remittance inflows were observed in January. Between January 19 and 25, remittances totaled $469.1 million. From January 12 to 18, the figure was $402.2 million. Between January 5 and 11, remittances amounted to $509.9 million, while the first four days of the year saw $226.7 million in remittances.

In contrast, December 2023 recorded total remittances of $2.6387 billion.

In 2024, the total remittance inflow was $26.89 billion. Monthly remittance figures for the year were as follows: January ($2.11315 billion), February ($2.16456 billion), March ($1.99707 billion), April ($2.04423 billion), May ($2.25493 billion), June ($2.5386 billion), July ($1.91377 billion), August ($2.22415 billion), September ($2.40479 billion), October ($2.39508 billion), November ($2.19951 billion), and December ($2.63878 billion).

Analysts suggest that the slowdown in remittance inflows could impact the country’s foreign exchange reserves.