Bangladesh received over $2.2 billion in remittances in August 2024, marking a 39 percent increase from the same period last year, according to Bangladesh Bank data. In August 2023, expatriates had sent $1.6 billion.

Remittance inflow in August also rose by 16 percent compared to July 2024, when Bangladesh received $1.91 billion. July recorded the lowest expatriate income in the past 10 months, with $1.91 billion, following the student movement. The previous low was in September of the previous year, at $1.33 billion.

July's dip was partly due to a banking shutdown from July 19 to July 23 amid student protests against discrimination, coupled with public and general holidays. Additionally, broadband internet was down for 5 consecutive days, and mobile internet was off for 10 days, disrupting foreign transactions with the country's banks.

To address the foreign exchange crisis and bolster reserves, Bangladesh Bank implemented various measures to boost remittances. These initiatives have positively impacted remittance inflow over the past few months, though there was a slight decline in July.