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Remittance figures surpassed all past records in January as expatriates sent home $ 1.21 billion in the first month of the year, the central bank says.

The figure is almost a quarter higher than the month before, at $ 1.15 billion.

According to Bangladesh Bank, the country's foreign currency reserve stands at $ 9.422 billion after adding January's influx. It was below $9 billion two weeks ago.

Economist Zayed Bakht said it was good news for an economy that was undergoing a crisis.

"If this trend continues it will help us grow out of the balance of payments issues," he said.

He said he thought the growing value of dollar was pushing expat workers to send more money home.

"No doubt many expats had saved up. Now that dollar price has gone up, they are sending their dear ones their savings. Possibly that is why remittance went up," he remarked.

According to central bank website, dollar sold on Jan 30 for Tk 84.30. However, foreign and private banks sold them for Tk 85.50 to Tk 85.80.

Dollar priced have soared up to 20 percent in the last one year.

According to Bangladesh Bank stats, $ 7.28 billion came home in remittances in the first seven months of this fiscal (July -January). In the same period of the last fiscal, the figure was $ 6.52 billion.

The growth, in this respect, is 11.7 percent.