DHAKA, November 9: Money sent home by Bangladeshis working abroad rose 12.1% in October from a year earlier to US$2.87 billion, according to provisional data from Bangladesh Bank. Inflows in the first four months of the 2026-27 fiscal year (July–October) reached US$11.47 billion, up about 13% on the same period last year.
Key highlights
- October 2026: US$2,873.63 million, up from US$2,562.44 million in October 2025.
- Month on month: up from US$2,766.24 million in September 2026.
- July–October FY27: US$11,465.94 million, against US$10,147.76 million a year earlier.
- Early November: US$878.56 million came in during November 1–7.
- Channels: private commercial banks handled about three-quarters of October’s inflows.
Remittances in numbers
| Period | Inflow (US$ million) | Change |
|---|---|---|
| October 2026 | 2,873.63 | +12.1% on October 2025 |
| September 2026 | 2,766.24 | — |
| October 2025 | 2,562.44 | — |
| July–October 2026 (FY27) | 11,465.94 | +13.0% on a year earlier |
| July–October 2025 (FY26) | 10,147.76 | — |
| November 1–7, 2026 | 878.56 | — |
Which banks brought the money in
| Bank type | October 2026 (US$ million) |
|---|---|
| Private commercial banks | 2,127.51 |
| State-owned commercial banks | 503.33 |
| Specialised banks | 237.87 |
| Foreign commercial banks | 4.91 |
Among individual banks, Islami Bank Bangladesh received the most in October (US$459.07 million), followed by Bangladesh Krishi Bank (US$237.87 million), Trust Bank (US$215.07 million), Agrani Bank (US$209.27 million) and Dutch-Bangla Bank (US$187.41 million).
Why it matters for Bangladesh
Remittances are one of Bangladesh’s main sources of foreign currency, alongside garment exports. In its monetary policy statement for October–December 2026, Bangladesh Bank said the taka had remained broadly stable against the US dollar, with some recent mild appreciation, and that the balance of payments recorded an overall surplus of US$6.60 billion in FY26. The central bank kept its policy rate at 9.50% in September, citing inflation risks from high global energy prices and the conflict in the Middle East; headline inflation was 8.26% in August.
Our calculation
- October’s inflow was about US$311 million higher than a year earlier and about US$107 million (3.9%) higher than in September.
- Private commercial banks handled about 74% of October’s remittances (2,127.51 of 2,873.63).
- If the first-week pace of November (US$878.56 million in seven days) were sustained, the month would exceed US$3.5 billion; weekly flows vary, so this is only an indication.
What it means for India and Asia
- South Asia’s lifeline: India, Pakistan, Bangladesh, Nepal and Sri Lanka all rely heavily on money sent home by workers abroad, much of it from the Gulf.
- Gulf exposure: because many Bangladeshi workers are in West Asia, inflows are sensitive to conditions in the Gulf economies and the conflict in the region.
- Currency stability: steady remittances help Bangladesh build reserves and keep the taka stable, which matters for its trade with India.
What to watch
- Weekly remittance data from Bangladesh Bank for the rest of November.
- Bangladesh’s October inflation figures and the central bank’s next policy decision.
- Garment export earnings, the other main source of foreign currency.
Bangladesh Bank and Shapla Chattar in Motijheel, Dhaka (file photo, 2011) Image: Abu Nayeem, CC BY 3.0, via Wikimedia Commons. Photo source · Licence
Sources
- Bangladesh Bank: Workers’ remittance (provisional data)
- Bangladesh Bank: Wage earners’ remittance data page
- Bangladesh Bank: Monetary Policy Statement, October–December 2026
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