**April Remittances Jump 37% as Migrants Boost Formal Transfers**
Overseas workers sent home $2.6 billion through official channels during the first 29 days of April, marking a 37% increase compared to the $1.9 billion recorded in the same period last year, according to Bangladesh Bank data. This growth contributes to a broader upward trend, with remittances totaling $24.39 billion in the first ten months of fiscal year 2024-25—a 28.5% year-over-year rise.
The sustained inflow has provided critical support to Bangladesh’s economy, easing pressure on foreign exchange reserves and aiding recovery from recent currency shortages. Central bank figures show reserves recently rebounded to $22 billion, strengthening the nation’s balance of payments position amid global economic challenges. Analysts attribute the surge to increased use of regulated financial systems by expatriates, reflecting efforts to streamline cross-border money transfers.
Source: Original Source