Remittances sent home by Sri Lankan migrant workers passed US$5 billion in the first seven months of 2026, according to Central Bank of Sri Lanka data.

Inflows from January to July totalled US$5,382.4 million, against US$4,435.2 million in the same period last year — an increase of US$947.2 million, or a little over 21 percent.

July inflows rise again

July alone brought in US$777.6 million, up US$80.3 million on the US$697.3 million recorded in June.

That month-on-month gain reverses a softer run. June had been the weakest month since November 2025, with remittances falling to a seven-month low from US$847 million in May. Analysts had linked that slide to rupee depreciation from April amid Middle East tensions, noting that expatriates tend to shift to informal channels such as Hawala and Undiyal when the exchange rate is uncertain.

The June figure has been revised marginally upward in the latest data, from the US$695 million first reported to US$697.3 million.

Why the figure matters

Remittances are one of the largest sources of foreign exchange available to the country, sitting alongside tourism and export earnings in rebuilding external buffers after the 2022 crisis.

The Central Bank reported official reserves of US$6.59 billion at the end of July. Remittance inflows feed directly into that reserve position and into the supply of dollars in the domestic market.

The seven-month total also builds on an unusually strong base. Remittances over the first half of 2026 reached US$4,604.8 million, up 23.2 percent year-on-year, at a point when tourism earnings and reserves were both weakening. Full-year 2025 inflows of US$8,076.2 million were an all-time high.

Update — August 11: July inflows up 11.5 percent year-on-year

EconomyNext reported that July’s US$777.6 million was 11.5 percent higher than the same month last year, and that the seven-month total of US$5,382.4 million represents growth of 21.4 percent.

The outlet linked the June dip to the rupee’s depreciation following escalation in the Middle East — the largest foreign job market for Sri Lankans — and said currency dealers report the rupee has been largely stable with a slight appreciating trend since last month. When the exchange rate is uncertain, analysts say, expatriates switch to informal channels such as Hawala and Undiyal that bypass the formal banking system.

Sri Lanka recorded a record monthly inflow of US$879.1 million in December 2025 and an all-time annual high of US$8,076.2 million for that year. EconomyNext reported that analysts expect 2026 to set a new annual record.

A more expansive projection came from the government. Speaking at a meeting with professionals in Passara, Deputy Minister of Tourism Ruwan Ranasinghe said remittances are expected to reach US$10 billion this year, NewsFirst reported — a figure well above both the 2025 record and the pace implied by the seven-month total.

Sources: Ada Derana, Daily Mirror, EconomyNext, NewsFirst.