Reserves will increase to 50 billion by 2030

Sunbd Desk , Published: 2020-12-17 14:29:15, Updated: 2020-12-17 14:29:15

Finance Minister AHM Mostafa Kamal has said that the reserve investment plan will be finalized before the next budget. “Our foreign exchange reserves exceeded 50 billion in the month of Victory,” he said. Prime Minister Sheikh Hasina herself is studying how to make the best investment.

He was speaking at a briefing after a meeting of the Cabinet Committee on Virtual Government Procurement on Thursday.

At the time, the finance minister said, “We will increase this reserve to 50 billion by 2030.” It is our promise. We did it by calculation.

He added that the main basis of reserves is remittances, which come through banks. Banks sell in the market when remittances exceed their demand. Bangladesh Bank buys when it sells in the market and this is the main reason why the reserves increase.

Sunbd/NJ/8:30/17.12.2020