Forex reserves hit record $35 billion amid COVID-19 crisis

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DHAKA, June 24, 2020 (BSS) – The country’s foreign exchange reserves
has crossed a new record of US$35.09 billion amid coronavirus crisis.

The inflow of remittances sent by migrant workers and lower import payment pressure have added up to raise the foreign exchange reserve to $35.09 billion, a high
official of the Bangladesh Bank told BSS.

Earlier on June 04, the reserves crossed the $34 billion mark for the first time.

The official said remittance is the key driver to raise the reserve to
the highest point.

As of June 18, 2020 of the current fiscal year, inbound remittance
registered over $17.58 billion, thanks to the two percent incentive
scheme of the government.