Forex reserve marks record high at $6.23b
Friday, 10 April 2009
The country's foreign exchange reserve rose to a record high at US$ 6.23 billion Thursday, because of the global recession that helped reduce the import expenditures, reports UNB.
A senior central bank official said the closing balance of the forex reserve reached the level, bettering the previous record of $6.18 billion on July 3 last year.
Bangladesh Bank purchased US dollars from the commercial banks to balance the liquidity surplus exchange market.
The greenback became surplus in the banks due to less expenditure on commodity imports like food and fuel.
The robust inflow of wage earners' remittance of over $7.0 billion in July-March, registering 24 per cent growth over the same period of the last fiscal, and a recent disbursement of World Bank credit worth $80 million also contributed to the forex growth.
A senior central bank official said the closing balance of the forex reserve reached the level, bettering the previous record of $6.18 billion on July 3 last year.
Bangladesh Bank purchased US dollars from the commercial banks to balance the liquidity surplus exchange market.
The greenback became surplus in the banks due to less expenditure on commodity imports like food and fuel.
The robust inflow of wage earners' remittance of over $7.0 billion in July-March, registering 24 per cent growth over the same period of the last fiscal, and a recent disbursement of World Bank credit worth $80 million also contributed to the forex growth.