Bangladesh Remittances Reach $12.34 Billion as Import Payments Pull Reserves Below $30 Billion

Money sent home rises while reserves face fresh demands

Bangladesh received $12.34 billion from citizens abroad between July 1 and November 7, 2026, extending strong growth in remittances even as import payments pulled its foreign exchange reserves below $30 billion under the International Monetary Fund's accounting method.

Bangladesh Bank figures put transfers during the first four months and seven days of the 2026–27 financial year 13.6 percent above the corresponding period a year earlier. Workers abroad sent $879 million in November's opening seven days, following $2.87 billion in October.

The incoming money provides support for families and supplies foreign currency to an economy facing expensive overseas purchases. On November 5, Bangladesh settled $1.64 billion in import liabilities through the Asian Clearing Union, leaving reserves of $29.98 billion under the IMF's BPM6 method and $34.85 billion under the broader gross measure.

September's merchandise imports cost $7.53 billion. At that monthly spending rate, the smaller reserve figure would cover almost four months of imports. The figures show why rising remittances and falling reserves can happen together: money continues arriving from abroad while the country pays for fuel, goods and other external obligations.

How strong is the latest increase?

Bangladesh's cumulative remittances rose from about $10.87 billion during July 1–November 7 of the previous financial year to $12.34 billion, an increase of roughly $1.48 billion. Bangladesh's financial year runs from July through June, making November its fifth month.

The weekly comparison needs care because the published amounts and the stated growth rate give different results. November 1–7 receipts of $879 million, compared with $647 million a year earlier, produce an increase of about 35.9 percent. The accompanying update described the increase as 22.7 percent. No explanation was given for that difference.

The cumulative increase of 13.6 percent is consistent with the reported totals. It gives a broader picture than the opening week of November, which covers only seven days and can move sharply when large transfers arrive.

Remittances are money people living abroad send home, often to relatives. A family can use the taka received to buy food, pay school fees or meet medical expenses. The foreign currency entering through banks also helps supply businesses that need dollars to pay overseas suppliers.

Monthly figures show an uneven but sustained rise

Bangladesh Bank's monthly remittance table records $2,858.76 million in July, $2,967.53 million in August and $2,766.02 million in September 2026. Together, those three months brought in $8.59 billion.

August was the strongest of the three months, with receipts about 22.5 percent above August 2025. July increased about 15.4 percent, while September grew about 3 percent. October's $2.87 billion represented an increase of about 12.1 percent from a year earlier.

The central bank also records the value in taka. July transfers were worth Tk 352.46 billion, August transfers Tk 365.30 billion and September transfers Tk 340.08 billion. Those figures describe the domestic currency value of the same incoming money.

The recent sequence combines continuing remittance growth with substantial payments abroad:

• July–September 2026: Remittances totalled $8.59 billion, according to the central bank's monthly table.
• October 2026: Transfers reached about $2.87 billion, up 12.1 percent from a year earlier.
• November 4: Bangladesh Bank sold $100 million from reserves through an auction to support the foreign currency market.
• November 5: Bangladesh paid $1.64 billion through the Asian Clearing Union for September and October import liabilities.
• November 1–7: Remittances reached $879 million, taking the financial year's cumulative total to $12.34 billion.

A record year provides the comparison

Bangladesh received $35.59 billion in remittances during 2025–26, up about 17.34 percent from roughly $30.33 billion in 2024–25. The central bank's monthly figures give the earlier year's total as about $30.33 billion, resolving an inconsistent dollar conversion in the initial account.

Monthly receipts averaged about $2.97 billion in 2025–26. Transfers exceeded $3 billion in each of the six months from December through May, a sustained run that helped produce the annual record.

March was the strongest month, at $3,752.21 million. May followed with $3,442.58 million, while December recorded $3,223.67 million. June receipts eased to $2,819.03 million.

The current financial year began below the previous year's monthly average. July, August, September and October each brought in less than $3 billion, yet all four exceeded their corresponding months a year earlier. Bangladesh is therefore receiving more money than at the same stage last year while remaining below the exceptional monthly peaks reached later in that year.

Five countries supply most of the money

Bangladesh Bank's country figures for July–May 2025–26 show how concentrated remittances are. Of $32.77 billion received during those 11 months, about $20.25 billion, nearly 62 percent, came from Saudi Arabia, the United Kingdom, the United Arab Emirates, Malaysia and the United States.

Saudi Arabia contributed $5.28 billion, or about 16 percent of the total. The United Kingdom supplied $4.69 billion, followed by the UAE with $4.28 billion, Malaysia with $3.22 billion and the United States with $2.79 billion.

Oman, Kuwait, Qatar, Bahrain, Singapore and Italy together contributed another $8.89 billion, about 27 percent. Those six countries and the leading five supplied close to nine dollars in every ten received during the period.

The United Kingdom overtook Saudi Arabia as the largest source in May, sending $650.9 million against Saudi Arabia's $546.5 million. UK receipts had been $282.5 million in July, making the May figure about 130 percent higher. Saudi Arabia nevertheless remained the largest source across the full 11 months.

The country breakdown covers July–May of the previous financial year. It provides a picture of where the money has been coming from, while the latest November update gives the new cumulative total without an equivalent country breakdown.

Why the Gulf matters to both sides of the accounts

Saudi Arabia and the UAE are major sources of remittances, while Oman, Kuwait, Qatar and Bahrain also contribute substantial sums. Bangladesh's exposure to the region extends to the energy it buys, creating pressure when conflict threatens overseas employment and raises fuel prices at the same time.

Fitch Ratings warned in its October 29 assessment that returning migrant workers could reduce transfers while higher oil and gas prices increase demand for foreign currency. Bangladesh's Gulf conflict exposure was already visible in July and August, when import payments rose 12 percent to $12.20 billion and petroleum payments doubled to $2.49 billion.

Petroleum accounted for about one dollar in every five spent on imports during those two months. Fitch's figures also put remittances at 36 percent of Bangladesh's current external receipts in 2024–25, with Gulf countries supplying nearly 46 percent of remittances in 2025.

For a household, losing an overseas salary can mean less money for everyday expenses. For Bangladesh's banks, weaker transfers would mean fewer incoming dollars just as importers need more foreign currency to buy energy. The latest increase in remittances gives the country support against those pressures.

What caused the reserve decline?

Bangladesh's gross reserves fell from $36.38 billion to $34.85 billion around the Asian Clearing Union settlement. Reserves measured under BPM6 fell from $31.51 billion to $29.98 billion. Both comparisons show a decline of about $1.53 billion over the reported interval, alongside the $1.64 billion payment.

The ACU is a regional settlement arrangement established in 1974 and based in Tehran. Its nine members are Bangladesh, Bhutan, India, Iran, the Maldives, Myanmar, Nepal, Pakistan and Sri Lanka. It allows participating central banks to settle eligible trade payments, with Bangladesh clearing its liabilities every two months.

Such settlements create a concentrated demand for foreign currency when payment falls due. The November transfer covered September and October import liabilities, bringing a scheduled external bill into the reserve accounts at one time.

Bangladesh Bank was also supplying dollars directly to the market. Its November 4 auction sold $100 million amid rising import costs, particularly for fuel. Dollar sales give banks foreign currency to meet demand, while reducing the central bank's holdings.

Gross reserves had reached $37.41 billion on September 1, compared with $34.85 billion after the November settlement. That is a reduction of about $2.56 billion. Strong remittances have continued during a period in which import settlements and market support have also required substantial dollars.

What four months of import cover means

Bangladesh's $29.98 billion reserve figure divided by September's $7.53 billion merchandise import bill gives about 3.98 months of cover. A benchmark commonly used internationally is reserves sufficient to pay for at least three months of imports.

At September's spending rate, three months of merchandise imports would cost $22.59 billion. The reported BPM6 reserves were about $7.39 billion above that amount. Import costs can change from month to month, especially when energy prices move, so the number of months changes with both reserves and spending.

BPM6 is the sixth edition of the IMF's Balance of Payments and International Investment Position Manual. Its rules provide a common way to classify external transactions and reserve assets. Bangladesh Bank describes its BPM6 reserve figure as immediately usable.

Import cover is a simple measure of the size of the foreign currency cushion. Bangladesh also needs foreign currency for obligations such as debt payments and services purchased abroad. Future reserve levels will depend on those payments alongside imports, remittances, export earnings and other incoming funds.

Key Points

• Bangladesh received $12.34 billion in remittances from July 1 to November 7, 2026, up 13.6 percent from a year earlier.
• November's first seven days brought $879 million. The published amounts imply growth of about 35.9 percent, while the update stated 22.7 percent.
• Remittances reached a record $35.59 billion in 2025–26, compared with about $30.33 billion the previous year.
• Five countries supplied nearly 62 percent of transfers during July–May 2025–26, led by Saudi Arabia.
• After a $1.64 billion ACU payment, reserves stood at $29.98 billion under BPM6 and $34.85 billion on the gross measure.
• BPM6 reserves equalled almost four months of merchandise imports at September's spending rate.