Chief Economics Correspondent,
bdnews24.com
Published: 24 Feb 2021 11:54 PM BdST
Updated: 24 Feb 2021 11:54 PM BdST
Bangladesh’s foreign exchange reserves have crossed another milestone on the money sent by migrant workers amid the coronavirus pandemic. );
}
The amount is sufficient to pay import bills for over 11 months.
The reserves crossed $43 billion for the first time on Dec 30 last year, but dropped below $42 billion when the country cleared the import bills to Asian Clearing Union in the first week of January this year.
With boosted remittances continuing to flow in, it took less than two months to cross another milestone.
Central bank officials think that the reserves will remain above $44 billion until Bangladesh pays the import bills again in early March.
Multilateral Engagements – Ministry of Foreign Affairs
mfa.gov.bt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mfa.gov.bt Daily Mail and Mail on Sunday newspapers.
From The Past Pages Of Dawn: 1970: Fifty Years Ago: Kabul Declaration - Newspaper
dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
Abdur Rahim Harmachi, Chief Economics Correspondent,
bdnews24.com
Published: 15 Dec 2020 09:50 PM BdST
Updated: 15 Dec 2020 09:50 PM BdST
Bangladesh’s foreign currency reserves have reached another milestone despite the coronavirus pandemic. );
}
The forex reserves at the Bagnladesh Bank stood at $42.03 billion after the end of Tuesday’s business hours.
Kazi Saidur Rahman, a deputy governor of the central bank, said the achievement was possible mainly due to the remittances sent by Bangladeshis working abroad.
Growth in exports and foreign loans also contributed to the rise of the reserves, he added.
Zaid Bakht, a researcher at Bangladesh Institute of Development Studies, said that a drop in import also helped the forex reserves to grow.