Forex reserves hit new record

Staff Correspondent

25 February, 2021 12:00 AM printer

Bangladesh’s foreign exchange reserves have hit a new height of $44.02 billion on Wednesday. 

The forex reserves, one of the major macroeconomic indicators of an economy, touched the $41 billion mark on October 28 and rose to $42 billion on December 15 and $43 billion on December 30 last year.

Between July and January this fiscal year, the country received $14.9 billion in remittance, up 34.95 per cent a year ago, Bangladesh Bank (BB) data suggest.

Remittance stood at $1.49 billion in the first 23 days of February in contrast to $1.24 billion in the same period a year ago.

Remittance has played a vital role in boosting the foreign exchange reserves amid the ongoing coronavirus pandemic, a Bangladesh Bank official said, adding that dwindling import has also helped widen the reserve.