Forex reserves cross $27b

The country’s foreign currency reserves yesterday hit a new record crossing a US$ 27-billion mark, reports BSS Earlier on August 17 the foreign exchange reserve crossed $26 billion mark for the first time in the country’s history.
The current reserve in Bangladesh is the second highest among the countries in the SAARC region, according to the latest data of Bangladesh Bank.
The reserve soared further because of the higher inflow of remittance in the past two months, with expatriate Bangladeshis sending more money home for Eid-ul Azha, a BB official said.
Besides the rising trend in remittance, the steady export growth and the fall in import cost also contributed to the historical high reserve position, which is well enough to meet the country’s seven months’ import requirements, the official said.

Forex reserves cross $27b

The countrys foreign currency reserves yesterday hit a new record crossing a US$ 27-billion mark, reports BSS Earlier on August 17 the foreign exchange reserve crossed $26 billion mark for the first time in the countrys history. The current reserve in Bangladesh is the second highest among the countries in the SAARC region, according to the latest data of Bangladesh Bank. The reserve soared further because of the higher inflow of remittance in the past two months, with expatriate Bangladeshis sending more money home for Eid-ul Azha, a BB official said. Besides the rising trend in remittance, the steady export growth and the fall in import cost also contributed to the historical high reserve position, which is well enough to meet the countrys seven months import requirements, the official said.