Bangladesh Bank's foreign exchange reserves have once again increased to $30.36 billion.

Bangladesh Bank Executive Director Md Mezbaul Haque on Wednesday confirmed the matter.

He said that the rise came after the country received a loan of $507 million as budgetary support from the World Bank.

On Sunday, the reserve fell to $29.78 billion after clearance of import payments amounting to $1.18 billion through the Asian Clearing Union (ACU) mechanism.

According to Haque, if Bangladesh Bank receives these expected funds, the country's reserves will reach $32 billion by the end of June.

Earlier, the gross forex reserves reached a record high of $48 billion in August 2021. Later, banks began facing shortages due to growing import payments, triggered by the economic recovery from the Covid-19 crisis.

The forex crisis strengthened later with the start of the Russia-Ukraine war in February 2022.

BDST: 1636 HRS, MAY 10, 2023
MSK/SMS