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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Forex reserves top $40b for first time

| Updated: October 09, 2020 09:56:50


-Reuters file photo -Reuters file photo

The country’s foreign exchange (forex) reserve crossed US$40 billion mark for the first time on Thursday following lower import payment obligations and higher growth of inward remittance. 

The forex reserve rose to $40.10 billion on the day, setting a new record, from $39.80 billion of the previous working day, according to the central bank's latest data. 

“Our forex reserve has crossed the $40 billion mark for the first time in the history of Bangladesh following lower import payment pressure on the economy and higher inflow of inward remittance in the recent months,” Kazi Sayedur Rahman, executive director of the Bangladesh Bank (BB), told the FE. 

Foreign loans and assistants have also helped push up the forex reserve, according to the central banker. 

siddique.islam@gmail.com

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