Forex reserve crosses $21bn for first time

The reserves first went above the $20 billion mark on April 10 due to remittances sent by expatriate Bangladeshis, rise in export earnings

Forex reserves

The foreign currency reserves have crossed $21bn mark for the first time due to the increase of foreign fund inflow and appreciation of the local currency against dollar.

Bangladesh Bank Forex Reserve and Treasury Management Division’s General Manager Kazi Saidur Rahman confirmed the news to the Dhaka Tribune.

He said: “The reserves stand at $21.03bn at the end of Monday.”

On April 10, the reserves first went above the $20 billion mark due to remittances sent by expatriate Bangladeshis and rise in export earnings.

The country’s foreign currency reserve was $19bn on February 19 this year while $18 on December 19, 2013.

According to the central bank, the Forex reserve stood at $10bn on December 10, 2009 and it crossed the $15bn mark on May 7, 2013 and the $17bn mark on October 22, 2013.

Source: Dhaka Tribune

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