Thursday, 29 Oct, 2020

Business

Forex reserve hits $39.40bn for the first time

Senior Correspondent | banglanews24.com
Update: 2020-09-01 17:42:35
Forex reserve hits $39.40bn for the first time

Bangladesh’s foreign exchange reserves have set a new record, surpassing $39 billion-mark for the first time on Tuesday.

Bangladesh Bank Executive Director and spokesperson Md Serajul Islam said country’s foreign exchange reserve hit $39.40 billion today. The reserve is enough to bear the import costs for the next 10 months.

According to central bank sources, import earnings of the country have increased along with remittance inflow. Additionally, Japan International Cooperation Agency’s (JICA) $300 million assistance helped boosting the reserve to hit almost $40 billion.

According to Bangladesh bank data, expatriate Bangladeshis sent $1.72 billion in the first 27 days of August. In July, the amount was $2.6 billion and in June, it was $1.83 billion.  The inflow of remittance had never been so high in consecutive months in country’s history.

The forex reserve reached $37 billion in August. Earlier on June 23, the reserve crossed $35 billion-mark for the first time only 20 days after it exceeded $34 billion-mark.

BDST: 1743 HRS, SEP 1, 2020
AP/SMS

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