Bangladesh has recorded a robust start to the new fiscal year with remittance inflows reaching $1.07 billion in just the first 12 days of July, according to the country’s central bank.

Arif Hossain Khan, Executive Director and spokesperson of Bangladesh Bank, shared the figures on Sunday, highlighting the steady support from millions of Bangladeshis working abroad.

This early July tally marks a notable rise from the same period last year. During the first 12 days of July 2024, remittances totaled $948 million—meaning this year’s receipts are up by $123 million year-on-year.

The surge follows an exceptionally strong showing in June, which closed out the 2024-25 fiscal year. In that month alone, Bangladeshi expatriates sent home nearly $2.82 billion via formal banking channels, averaging about $94 million in daily remittances.

Analysts say the continued growth in remittance flows is critical for Bangladesh’s foreign exchange reserves and helps stabilize the country’s balance of payments amid global economic uncertainties.