Bangladesh's forex reserves cross $30b again
Bangladesh's foreign exchange reserves on Wednesday once again reached 30.01 billion US Dollar mark which was $29.95 billion on Tuesday as the inflow of remittances is now maintaining an upward trend ahead of Eid-ul-Azha.
As per Bangladesh Bank data, between 1-20 June, Bangladeshi expatriates have sent $1.53bn of remittance to the country. In the same period of 2022, this figure was $1.10bn.
In the Fiscal Year 2022-23, the Bangladesh Bank sold $13.43bn from the reserves. The sales are usually used to fund government LC payments and procure essential goods.
After the government paid $1.1bn in import bills to the Asian Clearing Union (ACU), for March and April, the reserves fell to $29.7 billion on 8 May.
It rose again on 10 May, reaching $30.36bn which was $29.78bn just a day ago.
Bangladesh Bank data from 25 May shows that the reserve fell again to $29.96bn.
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