Reserves hit $20 bn again -
bdnews24.com
Reserves hit $20 bn again
Abdur Rahim Harmachi, Chief Economics Correspondent, bdnews24.com
Published: 2014-05-20 21:53:03.0 BdST Updated: 2014-05-20 21:53:03.0 BdST
The central bank’s foreign exchange reserves have again crossed the $20-billion mark.
According to Bangladesh Bank, the reserves stood at $20.03 billion on Tuesday. They had first crossed the $20-billion mark on April 10 this year but dropped to $19.4 billion on May 8 after the central bank cleared import payments to the Asian Clearing Union (ACU).
Bangladesh Bank Forex Reserve and Treasury Management Department General Manager Kazi Saidur Rahman told bdnews24.com that the country could meet import bills of more than six months with the present balance.
The central bank has to make import payments to the ACU again in the first week of July.
Saidur said the remittance inflow and export earnings were sustaining a ‘good’ trend.
Expatriate Bangladeshis remitted $700 million in the first 16 days of the current month, he said, adding that the figure for the whole month might cross $1.35 billion.
The central bank official said the expatriates would send home bigger amounts of money ahead of the two Eids, contributing to an increase in the reserves.
BB keeps dollar purchase on
The central bank has kept up its purchase of dollars from the market, buying up $60 million on Tuesday.
With the latest purchase, Bangladesh Bank bought $4.6 billion in the current fiscal year. The amount was $4.79 in the whole of last year.
Saidur said dollars were being purchased to keep the exchange rate and Bangladeshi taka stable.
bdnews24.com
Reserves hit $20 bn again
Abdur Rahim Harmachi, Chief Economics Correspondent, bdnews24.com
Published: 2014-05-20 21:53:03.0 BdST Updated: 2014-05-20 21:53:03.0 BdST
The central bank’s foreign exchange reserves have again crossed the $20-billion mark.
According to Bangladesh Bank, the reserves stood at $20.03 billion on Tuesday. They had first crossed the $20-billion mark on April 10 this year but dropped to $19.4 billion on May 8 after the central bank cleared import payments to the Asian Clearing Union (ACU).
Bangladesh Bank Forex Reserve and Treasury Management Department General Manager Kazi Saidur Rahman told bdnews24.com that the country could meet import bills of more than six months with the present balance.
The central bank has to make import payments to the ACU again in the first week of July.
Saidur said the remittance inflow and export earnings were sustaining a ‘good’ trend.
Expatriate Bangladeshis remitted $700 million in the first 16 days of the current month, he said, adding that the figure for the whole month might cross $1.35 billion.
The central bank official said the expatriates would send home bigger amounts of money ahead of the two Eids, contributing to an increase in the reserves.
BB keeps dollar purchase on
The central bank has kept up its purchase of dollars from the market, buying up $60 million on Tuesday.
With the latest purchase, Bangladesh Bank bought $4.6 billion in the current fiscal year. The amount was $4.79 in the whole of last year.
Saidur said dollars were being purchased to keep the exchange rate and Bangladeshi taka stable.
