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.