Reserves cross $34 bn for first time amid coronavirus
Published: 06:44 AM, 4 June 2020 Updated: 11:45 AM, 4 June 2020
The country’s foreign exchange reserves have crossed the $34 billion mark for the first time amid the coronavirus pandemic. At the end of Wednesday, the amount of reserves stood at 34.23 billion dollars or Tk 3,423 crore.
Earlier, on September 5, 2017, the country’s foreign exchange reserves were the highest at $33.68 billion or Tk 3,368 crore.
Although foreign trade has dropped to bottom due to coronavirus, the amount of reserves has increased due to the development aid of domestic and foreign partners.
According to Central Bank sources, remittances are the key to increasing reserves.
It is worth mentioning, from July 1, 2019, to June 2 this year, the expatriates have sent $16.5 billion which is 10 percent more than the same period of the previous fiscal year.