Forex reserves reach record $38.15 billion
Sunbd Desk || Published: 2020-08-19 01:00:29 || Updated: 2020-08-19 01:00:29
The country’s foreign exchange reserve has hit a new height setting a record of over $38 billion amid coronavirus pandemic.
Foreign exchange reserves stood $38.15 billion for the first time on Tuesday, said a high official of the Bangladesh Bank.
Remittance inflow has played a vital role behind the surge in foreign exchange reserves, said the official, adding that the government’s initiative of issuing a 2% cash incentive against inward remittance had also played a vital role.
The reserves reached $37.1 billion in July, the amount stood at $34 billion, $35 billion and $36 billion marks in June.
The previous highest reserves were recorded on September 5, 2017, the amount being $33.68 billion.
In FY20, remittance earnings hit a record $18.21 billion, up by 10.88% or $1.79 billion from $16.52-billion in the previous fiscal year.
Bangladesh receives record $2.6bn remittances in July amid pandemic.
They sent back $2.6 billion in inward remittances in the first month of the new fiscal year, a new monthly record.
The surging inbound remittance and enhanced aid from developing partners contributed to the rise in the forex reserve to $38.15 billion on August 18.
- Shanta Amnah Shariah Fund declared Dividend
- Google seals content payment deal with French news publishers
- Final approval of Tk 1271 crore to buy three crore doses
- Actor Azizul Hakim joined Walton
- Five workers killed in fire at Serum Institute
- First of all, I will take vaccine: Finance Minister
- World is leaning towards electric cars
- India handed over the gift vaccine to Bangladesh
- Biden rolls back Trump policies on wall, climate, health, Muslims
- India’s oil imports at near three-year high in December
- Robi is at the top of the transaction
- Qatar calls on Gulf nations to engage in diplomacy with Iran
- India’s tea industry in deep crisis due to reduced production
- BSEC appointed observer in Alhaj Textile
- Keya Cosmetics will pay cash dividend not stock
- To build dream capital market need everyone’s cooperation
- Delta Plan to ensure country’s economic growth, food, water security: PM
- DSE has to submit a specific plan within 10 days
- IDRA directs insurance owners to cover 60% of their capital
- NCC Bank’s 9th Extra-ordinary General Meeting (EGM) Held
- Ahmed Jamal is the new director of Bangladesh Bank
- Padma Bank Securities allowed to open a branch in Canada
- 75% social security allowance will be distributed by ‘nagad’
- Instructions not to impose subsidy interest on the customer
- BIA issues guidelines for compliance with motor insurance
- Islami Bank’s deposits increased Tk 23,000 crore