Forex reserves reach record $35b

For the first time, Bangladesh Bank's foreign exchange reserves have reached the $35 billion mark.

Officials of the concerned department of the BB confirmed the matter to The Business Post on Wednesday (June 24) as the record was set the day before.

According to central bank sources, the remittance inflows have increased despite the decline in export earnings. The concerning people also think that the amount of the reserves will increase further by the end of this week.

On June 3, the foreign exchange reserves reached a record high of 34 billion. Last May, the expatriates sent 1.53 billion USD dollars in remittances. That's Tk41.66 crore more than April last.

In addition, a record amount of remittances came on June 23.

Foreign exchange reserves reached a record of $33 billion on June 21, 2017. On that day, the foreign exchange reserves were $33.01 billion. Afterwards, although it decreased a little, it returned to $33 billion on October 31, November 2 and December 28, 2017.

According to the central bank, for the first time in 2001, Bangladesh was forced to keep the Asian Clearing Union (ACU) import bill pending.

However, after 16 years, in 2017, that reserve went up to $33 billion.

sr/dn/teb