Forex reserves hit new record high over $39bn

Foreign exchange reserves of Bangladesh have touched a new record of 39.04 billion US dollars amid coronavirus crisis.

The inflow of remittance and aid of the development partners added to raise the foreign exchange reserve to 39.04 billion dollars, a senior official of the Bangladesh Bank said today.

Earlier, the previous highest reserves amounting 37.18 billion dollars were recorded on July 29 this year.

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

In the fiscal year 2019-20, inbound remittance registered 10.87 per cent growth to 18.21 billion dollars, thanks to the 2 per cent incentive scheme of the government.

Bangladeshi migrant workers have sent home a record amount of remittance in July this fiscal 2020-21. They sent back 2.6 billion dollars inward remittances in the first month of the new fiscal year, a new monthly record.

The amount is around 63 higher than in July 2019.