Forex reserve crosses $42b for first time

December 15, 2020 19:18:57

| Updated:

December 15, 2020 20:00:00

The country’s foreign exchange (forex) reserve crossed $42 billion mark for the first time ever on Tuesday following lower import payment obligations and higher growth of inward remittance, officials said.

The forex reserve rose to $42.09 billion on the day, setting a new record, from $41.87 billion of the previous working day, according to the central bank’s latest data.

It was $41.02 billion on October 29 this year.

“Our forex reserve has crossed the $42 billion-mark ahead of 49th Victory Day mainly due to lower import payment pressure on the economy and higher inflow of inward remittance in the recent months,” Kazi Sayedur Rahman, Deputy Governor of the Bangladesh Bank (BB), told the FE.

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