Record 34 billion foreign currency reserves in Bangladesh

The country’s foreign currency reserves have reached a new record of 34.23 billion US dollars amid the coronavirus crisis.

A senior official of Bangladesh Bank told BSS today that the foreign exchange reserves stood at 34.23 billion on Wednesday as a result of support from development partners and remittance inflows.

Earlier, on September 5, 2016, the highest reserves of 33.6 billion dollars were recorded.

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The official said remittances are the key driver in raising the reserves to the highest point.

In the first 11 months of the current financial year, the government’s internal remittances grew by 7.62 per cent to ৬ 16.38 billion, which is a result of the government’s two per cent incentive scheme.

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