Forex reserves hit record high over $39 billion
The country’s foreign exchange reserves has touched a new record of US$39.04 billion amid coronavirus crisis.
The inflow of remittance and aid of the development partners added to raise the foreign exchange reserve to 39.04 billion, a senior official of the Bangladesh Bank told BSS today.
Earlier, the previous highest reserves amounting $37.18 billion were recorded on July 29 this year.
The official said remittance is the key driver to raise the reserve to the highest point.
In the fiscal year 2019-20, inbound remittance registered 10.87 percent growth to $18.21 billion, thanks to the 2 percent incentive scheme of the government.
Bangladeshi migrant workers have sent home a record amount of remittance in July this fiscal 2020-21. They sent back $2.6 billion inward remittances in the first month of the new fiscal year, a new monthly record.
The amount is around 63 higher than in July 2019.