Forex reserve tops $39b as migrant workers send record remittance in July
The country’s foreign exchange reserve has touched a new record of US$ 39.04 billion amid novel coronavirus crisis, reports news agency BSS.
The inflow of remittance and aid of the development partners added to raise the foreign exchange reserve to 39.04 billion, a senior official of Bangladesh Bank told the state-run news agency on Tuesday.
The previous highest reserve amounting $37.18 billion was recorded on 29 July this year.
Bangladeshi migrant workers have sent home a record amount of remittance in July of the current 2020-21 fiscal
The official said remittance is the key driver to raise the reserve to the highest point.
In the fiscal year 2019-20, remittance registered 10.87 per cent growth to $18.21 billion, thanks to the two per cent incentive scheme of the government.
Bangladeshi migrant workers have sent home a record amount of remittance in July of the current 2020-21 fiscal. They sent $2.6 billion remittances in the first month of the new fiscal year, a new monthly record.
The amount is around 63 per cent higher than in July 2019.