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At the end of the day on Wednesday, the Bank of Bangladesh’s reserves stood at £ 43.18 billion, more than at any time in the past.
Expressing satisfaction with the news, Finance Minister AHM Mustafa Kamal said: “It is a very happy event for the nation at the beginning of the new year.”
The reserve has reached new heights mainly on the basis of remittances sent by expatriates. That is why the Minister of Finance expressed his gratitude and gratitude to the expatriates. He also wished them a Happy New Year.
The positive trend in export earnings and the increase in foreign credit assistance have also contributed to the increase in reserves. Zayed Bakht, a researcher at the Bangladesh Development Studies Institute (BIDS), said the government was “giving courage” to tackle the strong reserves epidemic.
According to the central bank, reserves on December 15 were েম্বর 42 billion. An additional $ 1 billion has been added to reserves in two weeks.
Reserves have increased by £ 11 billion in the last year. As of December 26, 2019, reserves amounted to দশ 32.43 billion.
With the current reserves it is possible to cover the import cost of more than ten and a half months at a rate of four billion dollars a month.
Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan, Sri Lanka and the Maldives – these nine countries are currently members of UNHCR. Invoices for all products that Bangladesh imports from these countries must be paid through Akur every two months.
By international standards, a country must have at least three months of foreign exchange reserves to cover import costs.
Bangladesh Bank officials said Akur will have to pay the bill from November to December in the first week of January. Until then, the reserves will remain above 43,000 million.
The reserves have been growing steadily in recent years. Ten years ago, at the end of June 2009-10, the reserves were ১০ 10.75 billion. At the end of the 2013-14 fiscal year, that reserve was reduced to £ 20 billion.
It crossed ৩০ 30 billion in October last year. On June 30 of this year, that reserve increased to ৬ 36 billion. বিল 40 billion without October 8.
In the midst of the epidemic, remittances to the country reached 2.6 billion pounds sterling in July, the first month of the current fiscal year, the highest in history.
On the 29th of December this year, remittances of 191 crore 20 lakh dollars arrived. At the same time, last year they reached 159 crore 60 million dollars.
In total, remittances from July 1 to December 29 of the current fiscal year 2020-21 amounted to দশ 12.61 billion.
Bangladesh earned £ 15.92 billion from exports in July-November, 1 percent more than in the same period last year.
In these five months, Bangladesh has received a foreign loan of 198 million dollars. Which is 26.24 percent more than in the same period last year.
On the other hand, spending on imports has decreased by 7.84 percent in these four months.
Old news
Reserve at a new high of billion 42 billion
Remittances reach £ 20 billion before the end of the year
Reserve: the story of rising from below
Reserve will be ৫০ 50 billion next year: Minister of Finance
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