Bangladesh’s foreign exchange reserves have reached the $22 billion mark after several months, thanks to an increased inflow of foreign currency generated by remittances and export earnings.

Bangladesh is among the world's top recipients of remittances.

Bangladesh received a record $3.29 billion in remittances in March -- the highest monthly figure to date -- marking a 65 percent year-on-year surge.

Bangladesh received a record $2.94 billion in remittances during the first 26 days of March, driven by Eid-ul-Fitr, one of the largest festivals for Muslims.

The country’s foreign exchange market is stabilising thanks to a surge in US dollar (USD) inflows, driven by higher remittances, stronger export earnings and tighter oversight by the central bank.

Bangladesh received over $2 billion in remittances in January for the sixth consecutive month, thanks to a disruption in the flow of money through informal channels following the fall of the Sheikh Hasina-led government last August amidst a student uprising.

The biggest source of all the remittance received by Bangladesh last November was the US, according to the latest report of Bangladesh Bank (BB)..Moreover, Dhaka secured the lion’s share of the foreign currencies..Bangladeshi migrants sent home $2,199.99 million in November. Of it, $

Expatriate Bangladeshis sent home a record $26.9 billion, up 23 percent year-on-year, in a development that will bring a huge sigh of relief to policymakers as they endeavour to shore up strained dollar stockpile.

At pageants, the spotlight often shines on glamour and charisma. However, this year, Mr World Bangladesh 2024, B Proshad Das, and designer Tasmit Afiyat Arny, elevated the platform with a meaningful tribute to an unsung segment of Bangladesh’s population through a costume, titled “Tribute to Remittance Warrior.”

Remittance inflow has continued to rise for the past few months, providing a breather for a country facing multiple challenges, including external payment pressures amid dwindling foreign exchange reserves.

Many are sympathetic towards migrant workers for justifiable reasons.

Remittances sent by Bangladeshis living abroad soared nearly 39 percent year-on-year to $2.2 billion in August, which is likely to ease pressure on the foreign exchange reserves to some extent.

Bangladesh received the highest remittance from the United Arab Emirates in the first 10 months of the outgoing fiscal year, well ahead of traditional powerhouses such as Saudi Arabia and the United States, central bank figures showed.

Nearly half of the total remittances in December last year came to Bangladesh through Islamic banking channels, according to the Bangladesh Bank.

Remittance fell 1.23 percent year-on-year to $1.99 billion in March although inflows usually go up on the occasion of Eid, Bangladesh Bank data showed

In February, migrants sent home $2.16 billion, up 39% year-on-year

Migrant workers sent home $2.1 billion in January

The return and reintegration of migrants is an integral part of the migration cycle

Export and remittance sectors suffered disappointments in 2023, looking desperately for solutions this year

Migrant workers sent $1.99 billion in December