• THURSDAY
  • NOVEMBER 21, 2024

The reserve is increasing at the end of Eid 


  • Economy
  • Staff Correspondent
  • Published: 23 Jun 2024, 04:33 PM

On the occasion of Eid-ul-Azha, expatriates have sent a huge amount of remittances to their relatives in the country. Foreign exchange reserves have started to increase. This information has been informed by central bank sources, proving the negative information that was being spread about the decrease in reserves in May.

In the last one week, Bangladesh Bank's foreign exchange reserves increased by 318 million dollars to 19.53 billion dollars. That is, the reserve increased by 300 million dollars in one week.

Earlier, in May, remittances of USD 225 million came into the country, which was the highest in the last 46 months and the second highest ever. Earlier, the highest remittance in a month came in July 2020. In that month, remittances came in at 2.6 billion dollars.

According to the information of the central bank, in the first month of this year, 2100 million dollars remittances have arrived in the country. 216 million 6 million dollars came in February, 1996 million dollars in March and 204 million 42 million dollars in April.

According to the data of Bangladesh Bank, according to International Monetary Fund (IMF) accounting method BPM 6, the reserve on June 12 was 19.21 billion dollars. This increase in reserves is likely to continue in the coming weeks. Because before the end of this month, Bangladesh will receive 1.65 billion dollars from the International Monetary Fund (IMF) and the World Bank.

Meanwhile, the IMF may disburse $1.15 billion in the third tranche of the $4.7 billion loan in the last week of June. Apart from this, the World Bank is going to give 500 million dollars as budget support. It can release the reserve by 21 billion dollars.

According to the report of Bangladesh Bank, in the 14 days before Eid and in the first 14 days of June, expatriates sent more than 1646.7 million US dollars through banking channels, which is 19 thousand 432 crores in local currency (at 118 taka per dollar). According to that, the daily remittance received during Eid is more than Tk 991 crore.

During the discussion period, 394 million dollars through state-owned banks, 40 million dollars through a specialized bank, 1208.1 million dollars through private banks and 42 million dollars through foreign banks have arrived in the country.

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