Forex reserves cross $30 billion again

Bangladesh’s foreign exchange reserves have now surpassed the $30 billion level, up from $29.95 billion yesterday, as remittance inflows are now on the rise in front of Eid-ul-Azha.

Data from the Bangladesh Bank show that between June 1 and 20, $1.53 billion in remittances entered the nation. This amount was $1.10 billion at the same time period the previous year.

The Bangladesh Bank sold $13.43 billion from the reserves during the fiscal year 2022–2023.

The proceeds from the sales are typically utilized to pay for government LC obligations and buy necessities.

The reserves dropped to $29.7 billion on May 8 after the government paid $1.1 billion in import bills to the Asian Clearing Union, or ACU, for March and April.

On May 10, it increased once again, reaching $30.36 billion, up from $29.78 billion the day before.

According to Bangladesh Bank figures from May 25, the reserve decreased once again to $29.96 billion.

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
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