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SUNDAY, JULY 20, 2025
Foreign reserve crosses $30bn again within a month

Economy

TBS Report
21 June, 2023, 06:30 pm
Last modified: 21 June, 2023, 07:59 pm

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Foreign reserve crosses $30bn again within a month

TBS Report
21 June, 2023, 06:30 pm
Last modified: 21 June, 2023, 07:59 pm
Foreign reserve crosses $30bn again within a month

The foreign exchange reserve crossed the $30billion mark after it had fallen below the level on 25 May. 

The reserve currently stands at $30.02bn as of Wednesday. 

A central bank high official said the rise in the reserve was a reflection of increased remittance.

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Many banks now had enough dollars to make smooth LC (letter of credit) payments, he added.

Between 1-20 June, $1.53bn had entered the country as remittance. In the same period last year, this figure stood at $1.10bn. 

In the Fiscal Year 2022-23, the Bangladesh Bank sold $13.43bn from the reserves.

The sales are usually used to fund government LC payments and procure essential goods.

After the government paid $1.1 billion in import bills to the Asian Clearing Union, or ACU, for March and April, the had reserves fell to $29.7 billion on 8 May. 

It rose again on 10 May, reaching $30.36 billion which was $29.78 billion just a day ago.

Bangladesh Bank data from 25 May shows that the reserve fell again to $29.96 billion.

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