The Financial Express

Bangladesh’s forex reserves cross $41 billion again

| Updated: November 25, 2020 18:14:01

Evaly and Fianancial Express Evaly and Fianancial Express
Representational photo Representational photo

Bangladesh’s foreign exchange (forex) reserves crossed the US$41 billion-mark again on Wednesday following lower import payment obligations and higher growth of inward remittance.

The forex reserve rose to $41.10 billion on the day from $40.99 billion of the previous working day, according to the central bank's latest data.

“Our forex reserves have crossed the $41 billion-mark again following the lower import payment pressure on the economy and higher inflow of inward remittance in the recent months,” a senior official of the Bangladesh Bank (BB), told the FE while explaining the latest reserve situation. 

The continuous purchase of US dollar from the commercial banks has directly contributed to reaching the mark, according to the central banker.

He also said foreign loans and assistants have also helped push up the forex reserves.

[email protected]

Share if you like