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The country’s foreign exchange reserves have surpassed another record of £ 42bn in a month and a half.
Over the next few days, billions of dollars in foreign exchange reserves have become commonplace.
A senior official at the Bangladesh Bank told The Daily Star on Tuesday: “This is the first time that foreign exchange reserves have exceeded 42 billion pounds. Most recently, on October 26, the stock surpassed another িয়ন billion houses, reaching 41.03 billion. At that time last year, the reserves were $ 32.39 billion.
Analyzing the data from the Bangladesh Bank, it has been seen that the stocks are increasing day by day mainly due to the negative conditions in the economy caused by the coronavirus.
In the last financial year, import spending decreased 7.56 percent to 54.56 billion. Had it not been for the Corona epidemic, which would have approached 60 billion.
In the context of such low imports, in the first three months of this fiscal year, imports have fallen by $ 1.5 billion or about 12 percent to $ 11.64 billion. In normal times, at least £ 2 billion would have been spent on additional imports in these three months.
Apart from imports, the foreign exchange that was spent on various activities, including education and medicine, did not happen at that time. It is also contributing to the increase in stocks.
On the other hand, the big surprise in terms of foreign exchange earnings is the increase in remittances. In the first five months of the current fiscal year, remittances were ৯ 10.90 billion, compared with ৭ 8.61 billion in the same period last year. Again, despite the small size of the Corona epidemic, exports have increased.
