Even in the midst of the epidemic, Bangladesh’s foreign exchange reserves exceeded the 45 billion milestone by relying on remittances sent by expatriates. On Thursday (June 24), Bangladesh Bank’s reserves stood at শেষে 45.59 billion at the end of the day, more than at any time in the past.
Through this reserve it is possible to meet the import cost for more than 11 months. By international standards, a country must have at least three months’ worth of foreign exchange reserves to cover import costs.
According to the data published by Bangladesh Bank, the foreign exchange reserves have increased by 126.2 million dollars in one week. In the midst of the epidemic, on February 24, Bangladesh Bank’s reserves stood at দশ 44.026 billion.
On June 23, 2020, the reserves were 35.09 billion dollars. In other words, the reserves have increased by 10.49 billion dollars in the last one year. This record in the reserve is mainly due to remittances sent by expatriates.
In the 11 months of this year, from July 2020 to May 2021, expatriates sent দশ 22.84 billion to the country, which is 39.46 percent more than the same period last year. In the first month of the current fiscal year 2020-21, remittances to the country reached ৬ 2.8 billion, the highest ever.
Source: Bhorer Kagoj by www.bhorerkagoj.com.
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