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Forex reserves hit record high over $36 billion

Published : Thursday, 2 July, 2020 at 10:48 PM  Count : 278

Forex reserves hit record high over $36 billion

Forex reserves hit record high over $36 billion


Bangladesh's foreign exchange reserves has crossed US$36 billion for the first time following the higher growth of inward remittance and lower import payment.

The inflow of remittance and lower import payment pressure added to raise the foreign exchange reserve to 36.02 billion on June 30, a senior official of the Bangladesh Bank said.

Earlier, on June 23, the foreign exchange reserve crossed $35 billion.

The official said remittance is the key driver to raise the reserve to the highest point.

The country received $18.20 billion in remittance in the 2019-20 fiscal year, compared to $16.41 billion in the 2018-19 fiscal year, according to Bangladesh Bank data.

The last month of FY2019-20 received the highest single-month remittance in Bangladesh’s history.

In June, expatriates sent $1.83 billion as remittance to the country.

The second-highest amount of remittance received in a month was $1.74 billion in June last year, according to central bank data.





SZA

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Forex reserves   hit record high   $36 billion  




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