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Forex reserves hit record high over $34 billion

Forex reserves hit record high over $34 billion

The country’s foreign exchange reserves has touched a new record of US$34.23 billion amid coronavirus crisis.

The inflow of remittance and aid of the development partners added to raise the foreign exchange reserve to 34.23 billion on Wednesday (Jun 3), a senior official of the Bangladesh Bank told media today.

Earlier, the previous highest reserves amounting $33.68 billion were recorded on Sep 5 in 2017.

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

In the 11 months of the current fiscal year, inbound remittance registered 8.72 percent growth to $16.36 billion, thanks to the 2 percent incentive scheme of the government.