Bangladesh registers record 34.23 billion reserve
June 4th, 2020 at 2:05 pm
Bangladesh registers record 34.23 billion reserve

Staff Correspondent ;

Dhaka – Despite the crisis Bangladesh has been facing like any other countries worldwide because of the novel coronavirus, the South Asian country registered a new record of foreign exchange reserves.

The inflow of remittances and aids provided by the development partners have helped raise the reserve to 34.23 billion dollars on Wednesday.

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Bangladesh Bank

According to the central bank the immediate-past highest reserves amounting $33.68 billion. It was recorded on September 5 in 2017.

Nearly 10 million Bangladeshi expatriates contribute the major source of central reserve, according to the Bangladesh Bank, the national banking regulator.  

In the 11 months of the current fiscal year, inbound remittance registered 8.72 percent growth to 16.36 billion dollars. The government announced a 2 percent incentive on remittance sent through the banking channel.