Bangladesh received $988 million in remittances through formal banking channels in the first 11 days of October, marking a 3.5% rise compared to the same period last year.

According to Bangladesh Bank data, remittance inflow during the corresponding period of October last year stood at $954 million — $34 million lower than this year’s figure.

Between October 9 and 11 alone, expatriates sent home $183 million, while on October 8, remittance inflow stood at $112 million.

Since the beginning of the current fiscal year (July–October 11), total remittances reached $8.57 billion, up from $7.49 billion during the same period last year — a year-on-year increase of 14.4%.

Meanwhile, along with the rise in remittance inflow, the country’s foreign exchange reserves have also increased.

As per the latest data from Bangladesh Bank, the country’s gross foreign exchange reserves stood at $31.93 billion as of October 9.

Under the IMF’s BPM6 calculation method, the usable reserve currently stands at $27.12 billion.