Bangladesh reaches the milestone of 44 billion dollars reserve

The country’s foreign exchange reserves have crossed new milestones again. For the first time, the country’s reserves have reached 4,400 crore dollars or 44 billion dollars.

At the end of the day on Wednesday (February 24), the country’s reserves stood at  4,400 crore dollars. This amount is about tk 3 lakh 74 thousand crore in Bangladeshi currency at tk 85 per dollars. It is possible to cover at least 8 months of import expenditure with the foreign exchange reserves as 4 billion dollars per month. Earlier, in December last year, the reserves were 4.3 trillion.

The foreign exchange reserves are also increasing as the expatriate income increases in the corona and the growth in exports continues. By international standards, a country must have at least three months’ worth of foreign exchange reserves to cover import costs. Remittances are playing a role as one of the sources of the country’s reserves. The government started giving 2 percent incentive from 2019-20 fiscal year to increase expatriate income. Since then, the expatriate income has returned legally.

Sunbd/NJ