Foreign exchange reserves now $20 billion

Foreign exchange reserves now $20 billion

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Bangladesh’s foreign exchange reserves have reached yet another milestone by crossing $20 billion-mark, due mainly to buoyant remittance flow and declining import, the central bank officials say.
Bangladesh Bank’s Forex Reserve and Treasury Management Department General Manager Kazi Sayedur Rahman told bdnews24.com that the bank would hold a media conference on the matter on Thursday afternoon.Bangladesh’s foreign currency reserves are the second highest among the SAARC countries after India which earned nearly $300 billion in March.
According to the bank, expatriates remitted $1.273 billion in March, the third highest in Bangladesh’s history.
It will be possible to foot import bill of over six months with the current reserves.
Bangladesh’s foreign currency reserves had reached $19 billion for the first time in February when the expatriates had remitted $1.16 billion, according to the Bangladesh Bank. – bdnews24.com

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