Forex reserve now $35.98 billion: BB

Staff Reporter :
Country’s foreign exchange reserves are now $35.98 billion, according to the data of Bangladesh Bank on Thursday.
The data said that the foreign exchange reserve was $36.11 billion on Tuesday due to high import payments against the export earnings, but it was $35.98 billion on Wednesday.
After selling $60 million to the banks from the foreign reserve, the current reserve stood at $35.98 billion. Bangladesh Bank has so far sold $4.5 billion in the current fiscal year.
Bangladesh received foreign remittance of $567.27 crore in the first three months of the FY2022-23. It was $540.83 crore in the same period of the FY2021-22.
Recently the remittance flow through banking channel had reduced because most of the remittance came through unofficial channel ‘Hundi’. This created a huge pressure on economy and the dollar crisis created.
Concerned stakeholders said that the country’s economy might face more trouble if the situation did not improve soon.
Meanwhile, in October last year, country’s forex was $46.19 billion.