By Mizan Rahman/Dhaka
Bangladesh’s foreign exchange (forex) reserve has crossed the $33bn-mark for the first time following higher inflow of remittance during the Eid al-Fitr festival, officials said.
The forex reserve rose to $33.01bn, setting a new record, from $32.92bn, according to the central bank’s latest statistics.
Receipt of $46mn fund from World Bank recently has also contributed to raise the forex reserve, according to a senior official of Bangladesh Bank (BB).
“Our forex reserve has crossed the $33bn-mark, mainly due to lower import payment pressure on the economy recently and higher inflow of remittance ahead of the Eid,” the BB official said.
He also said the country will be able to settle more than eight months’ import bills with the existing forex reserve.
Bangladesh received $724.46mn as remittance between June 1 and June 16 from the expatriates working abroad, according to the BB latest statistics. In May, the remittance inflow was $1.27bn.
Non-Resident Bangladeshis (NRBs) usually send hefty amount of foreign currencies to their near and dear ones in the country ahead of the Eid al-Fitr festival that was celebrated on Monday.
“Steady growth in export earning has also helped to build the healthy reserve in the recent years,” the central banker noted.
http://www.gulf-times.com/story/554802/Bangladesh-reserves-top-33bn-during-Eid
Bangladesh’s foreign exchange (forex) reserve has crossed the $33bn-mark for the first time following higher inflow of remittance during the Eid al-Fitr festival, officials said.
The forex reserve rose to $33.01bn, setting a new record, from $32.92bn, according to the central bank’s latest statistics.
Receipt of $46mn fund from World Bank recently has also contributed to raise the forex reserve, according to a senior official of Bangladesh Bank (BB).
“Our forex reserve has crossed the $33bn-mark, mainly due to lower import payment pressure on the economy recently and higher inflow of remittance ahead of the Eid,” the BB official said.
He also said the country will be able to settle more than eight months’ import bills with the existing forex reserve.
Bangladesh received $724.46mn as remittance between June 1 and June 16 from the expatriates working abroad, according to the BB latest statistics. In May, the remittance inflow was $1.27bn.
Non-Resident Bangladeshis (NRBs) usually send hefty amount of foreign currencies to their near and dear ones in the country ahead of the Eid al-Fitr festival that was celebrated on Monday.
“Steady growth in export earning has also helped to build the healthy reserve in the recent years,” the central banker noted.
http://www.gulf-times.com/story/554802/Bangladesh-reserves-top-33bn-during-Eid
