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At a time when the world economy is in crisis due to the effects of the coronavirus, the amount of foreign exchange reserves of Bangladesh has set a new record. Despite the Corona situation, the Bank of Bangladesh’s foreign exchange reserves have passed the £ 41 billion milestone.
At the end of the working day on Thursday, the Bangladesh Bank had reserves of 41.20 billion. That broke all the records in the past. This reserve is three times more than Pakistan.
Finance Minister AHM Mustafa Kamal thanked the expatriate workers for the good news from the reservation.
According to the Bank of Bangladesh, on September 1, the country’s reserves crossed £ 39 billion for the first time. It rose to 39.50 billion in early September, from 39 billion on September 20. On October 8, reserves rose to a new record, surpassing 40 billion. In three weeks, the reserves exceeded 41 billion.
Bank officials say the government incentive announcement has resulted in increased reserves due to large remittances from expatriates, less pressure on import spending, external loan assistance from donors, the World Bank , the Asian Development Bank-ADB, the IMF and JICA and the World Bank grants.
According to the Bank of Bangladesh, in the first quarter of the current fiscal year (July-September), expatriates sent Rs 61.31 million to the country, which is 48.56 percent more than in the same period of the fiscal year. previous. Expats sent £ 215.1 million to the country last September, the second-highest remittance in Bangladesh’s history.
Previously, expatriates sent 2.7 billion remittances to the country last July. Never before in the history of Bangladesh have so many remittances been received in one month. Previously, the highest remittance in a month occurred last June. In that month, remittances of 183 crore 30 million dollars arrived.
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