Reserves increased by $300 million over the course of the week

Dollars have started coming in at a time when there is concern about reserves in the country. In the space of a week, Bangladesh's foreign exchange reserves have reached 318 million dollars. Which has increased to 19.53 billion dollars.

These data are known from the central bank statistics. This increase in reserves is likely to continue in the coming weeks.

According to the statistics of Bangladesh Bank, according to the International Monetary Fund (IMF) BPM 6, the reserves on June 12 were 19.21 billion dollars.

Meanwhile, Bangladesh will receive $1.65 billion from the International Monetary Fund (IMF) and the World Bank before the end of this month.

The IMF may disburse $1.15 billion in the third tranche of a $4.7 billion loan in the last week of June. Besides, the World Bank is going to give 500 million dollars as budget support. Reserves may exceed 21 billion dollars.

According to the latest report of Bangladesh Bank, 164 crore 67 lakh 40 thousand US dollars have arrived in the country in the first 14 days of the current month of June. At the same time of the previous months, remittances to the country were 111 crore 86 lakh, 94 crore 36 lakh, 95 crore 6 lakh, 100 crore 66 lakh and 100 crore 52 lakh US dollars respectively.

Those concerned say that the remittance flow naturally increases before Eid al-Adha. In the first 12 days of this month of June, remittances in banking channels reached 146 million dollars. 225 million dollars came in last May which is the highest in last 46 months. Migrant workers in the country usually send more money ahead of religious festivals.

Meanwhile, in the 11 months up to July-May of the current fiscal year, remittances to the country reached 2,137,25,70,000 US dollars. With one month left, remittances almost equal to the previous financial year have arrived. And compared to last April, the amount of remittances increased by 196 million dollars in May, which is more than 10 percent. In April, expatriates sent $204 million through banking channels. 1.69 billion dollars came in the same month of the previous year.

According to the data of Bangladesh Bank, during the same period of the previous financial year i.e. in July-May of the financial year 2022-23, remittances came to the country of 1 thousand 941 crore 16 lakh 50 thousand US dollars.

Earlier, in July-May of 2021-22 financial year, remittances came to the country of 1 thousand 919 crores 44 lakh 1 thousand US dollars. About three hundred crore rupees have come in the previous year. In the same period of the fiscal year 2020-21, remittances to the country reached 2,283,690,000 US dollars. In July-May of the financial year 2019-20, remittances came to the country 1 thousand 637 crore 23 lakh 80 thousand US dollars.

225 million dollars came into the country in May, which is 32.35 percent more than the same period last year. In the same period last year, remittances came in at $1.7 billion. Last April, March, February and January remittances to the country were respectively 204 crore 30 lakh 60 thousand, 199 crore 68 lakh 50 thousand, 216 crore 60 lakh and 210 crore 9 lakh 50 thousand dollars.

Spokesperson of Bangladesh Bank. Majbaul Haque said that as a result of various initiatives taken by Bangladesh Bank, the expatriate income has increased by 32.35 percent compared to the same month of the previous year. Compared to the previous month of April, remittances increased by 10.29 percent in May.