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.
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