Forex reserves crosses $44b again

ZOOMBANGLA DESK: Foreign exchange reserves have crossed the US$44 billion-mark again due to the higher growth of inward remittance.

The forex reserve fell to $43.89 billion on 6 March 2022 after paying import bills of $2.16 billion to Asian Clearing Union (ACU). It was the lowest forex reserves for Bangladesh in past one year.

The export earnings and remittance inflows of $15.29 billion in nine months of the current (July-March) fiscal year (FY), pushed the foreign currency reserves to 44.30 billion on Sunday in contrast to a month ago.

Remittance inflow rose to an eight-month high in March which was nearly 25 percent higher than the previous month of the current fiscal 2021-22.

According to the Bangladesh Bank (BB) latest data, expatriate Bangladeshis sent US$1,859.97 million remittance in March of the fiscal 2021-22 which is the highest since July when $1,871.49 million flew into the country in remittances. (BSS)