Remittances surge 41% in May ahead of Eid-ul-Azha

Bangladesh has seen a strong rebound in remittance inflows in May, with overseas workers sending home 41.31 percent more money in the first 23 days of the month compared with the same period a year earlier, central bank figures show.

Data released by Bangladesh Bank indicate that expatriates remitted 2.97 billion US dollars between May 1 and May 23, 2026, up from 2.10 billion dollars during the corresponding period in May 2025.

On May 23 alone, remittances channeled through the banking system reached 173.64 million dollars, reflecting a continued upward trend in official transfers.

The latest inflows have lifted total remittance earnings in the current fiscal year 2025 to 2026 to a record level. From July 2025 to May 23, 2026, Bangladesh received 32.3 billion dollars, marking a 21.26 percent increase over the 26.64 billion dollars recorded during the same stretch of the previous fiscal year.

Officials at the central bank and financial analysts linked the rise to several factors, including increased transfers ahead of Eid-ul-Azha, improved digital banking services that have made transactions faster and more accessible, and competitive exchange rates offered by commercial banks to encourage formal remittance channels.

They noted that the sustained growth in remittance earnings is playing a vital role in strengthening foreign exchange reserves and supporting macroeconomic stability at a time of global economic uncertainty.