Bangladesh's foreign exchange reserves crossed $21 billion yesterday after almost 10 months thanks to an increased inflow of foreign currency generated by remittances and export earnings.
After remaining above the $20 billion mark for just three days, Bangladesh's foreign currency reserves dropped to $18.46 billion after the country paid its regional import bills on October 9.
Reserves stood at $20.48 billion on July 31, down from $21.78 billion a month ago
Reserves hit $19.53 billion on June 19, up from $19.21 billion on June 12
The government’s allocation to repay foreign debts may reach Tk 57,000 crore in the next budget, a 53 percent rise from the current year, putting further pressure on the country’s dwindling foreign currency reserves.
Says PM’s Energy Adviser Tawfiq-e-Elahi Chowdhury on global oil price hike
The Bangladesh Bank has unveiled the counter-trade policy, an arrangement that promotes direct exchanges of goods and services without cash, with a view to reducing pressure on dwindling foreign currency reserves.
In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.
It hit $29.97 billion on May 24
Bangladesh's foreign exchange reserves crossed $21 billion yesterday after almost 10 months thanks to an increased inflow of foreign currency generated by remittances and export earnings.
After remaining above the $20 billion mark for just three days, Bangladesh's foreign currency reserves dropped to $18.46 billion after the country paid its regional import bills on October 9.
Reserves stood at $20.48 billion on July 31, down from $21.78 billion a month ago
Reserves hit $19.53 billion on June 19, up from $19.21 billion on June 12
The government’s allocation to repay foreign debts may reach Tk 57,000 crore in the next budget, a 53 percent rise from the current year, putting further pressure on the country’s dwindling foreign currency reserves.
Says PM’s Energy Adviser Tawfiq-e-Elahi Chowdhury on global oil price hike
The Bangladesh Bank has unveiled the counter-trade policy, an arrangement that promotes direct exchanges of goods and services without cash, with a view to reducing pressure on dwindling foreign currency reserves.
In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.
It hit $29.97 billion on May 24
The business sector in Bangladesh has been going through severe challenges for the past four years, which, for many, have been the toughest period in decades, with the coronavirus pandemic being the dominant factor in the early part before the Russia-Ukraine war broke out. Today, we are running the last report of a series and it focuses on the lessons for the businesses from the two unprecedented shocks.
