Remittances rose 7 percent year-on-year to $2.56 billion in the latest monthly report, a welcome boost that shows more money is reaching households through formal channels and is helping stabilise the foreign exchange picture. Bangladesh Bank figures say the month’s inflows helped lift the cumulative four-month total to $10.14 billion, up from $8.9 billion in the same stretch a year earlier, which points to steady gains and renewed trust in legal money-sending routes. Bankers and experts noted that a calmer foreign exchange market and a drop in informal hundi flows have encouraged expatriates to use banks more, and they said the exchange rate offered by banks is now close to what people see in the open market, making formal transfers more attractive. The rise in remittance receipts can ease pressure on families who depend on money sent from abroad for everyday needs, schooling and small investments, while also adding to the foreign currency available for trade and imports. Industry voices said the country has been receiving roughly $2.5 billion a month on average through official channels, a level that shows resilience in worker earnings and growing ties between migrant communities and formal financial services. Bankers said stronger inflows can help the current account and support wider economic balance when they are steady, and they urged continued efforts to keep remittance channels simple, affordable and widely available. Experts called for more outreach to migrants and their families so they know the safest ways to send money, and they urged more digital payment options, better customer service and clearer fee information so users can choose the best route. Officials also encouraged banks and money transfer firms to work with service providers overseas and local banks to offer easy, low-cost entry points for first-time senders and small transfers. Private sector groups said the trend should be backed by policies that reduce unnecessary charges, speed up settlements and expand agent networks so rural families can receive funds fast. Observers noted the importance of keeping exchange rates competitive and transparent, since fair rates help draw flows into formal channels and cut the lure of informal methods. Overall, the increase in remittances was described as a positive sign that policy steps and market improvements are making legal channels stronger, and stakeholders said they will press on with simple, practical steps to make sending and receiving money easier for millions of families who rely on these vital inflows.
