Foreign Currency Reserve Reached $40bn

Even in this pandemic, the foreign currency reserve has increased its highest in the history of the country. The reserve reached $40bn on Thursday as declared by Bangladesh Bank. BB explained that two factors have contributed to this increasing trend one is the rising of the remittance and the other is enhanced aid from the development partners.  

Foreign currency reserve is important in the sense that, it strengthens the local currency against the dollar. It is also important to meet the import payments of the country. It is possible to meet the import payments of ten months with the current foreign currency reserve, said BB officials.

As previously said remittance is playing a vital role behind this surge of the reserve. The govt. initiative to add 2% incentive motivated the remitters to send more remittances. This initiative is admired by all.

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