News update
  • BNP stance on reforms: Vested quarter spreads misinfo; Fakhrul     |     
  • New Secy-Gen Shirley Botchwey pledges to advance Co’wealth values in divided world     |     
  • C. A. Dr. Yunus’ China Tour Cements Dhaka-Beijing Relations     |     
  • Myanmar quake: Imam's grief for 170 killed as they prayed in Sagaing     |     
  • Eid Tourism outside Dhaka turning increasingly monotonous      |     

Bangladesh forex reserves increases to $19.53 billion

Special Correspondent Remittance 2024-06-21, 12:40am

bd-bank-comm-18d8ee8fb45a676c4602dd5dee846d651718908802.jpg

Bangladesh forex reserves increases to $19.53 billion



Dhaka, June 21 - Bangladesh's foreign exchange reserves rose by US $318 million in the span of a week to hit $19.53 billion on June 19.

Bangladeshi expatriates have sent about $1.65 billion as remittances in 1-14 days of this month, which is a huge inward flow just in two weeks. But it is usual as expatriates sent additional remittances ahead of Eid-ul-Azha.

According to the latest update of Bangladesh Bank (BB), the foreign exchange reserves was $19.21 billion on June 12. The reserves increased to $19.53 billion on June 19.

The foreign exchange flow will continue to rise in the coming weeks as the country is set to receive $1.65 billion from the International Monetary Fund (IMF) and the World Bank before the end of this June.

The IMF may release $1.15 billion in the third installment of its $4.7 billion loan in the last week of June while the WB is going to provide $500 million in budget support. This may send the reserves above $21 billion.

The latest improvement in the forex reserves situation comes a month after the central bank relinquished its control over the rate-setting mechanism and introduced a more flexible exchange rate regime.-UNB