Forex reserve reaches all-time high $ 21b  

The country’s foreign exchange reserve has hit a new height setting a record of over $21 billion riding on the positive remittance inflow and increased export earnings.

Forex-res1The reserve stood at $ 21.04 billion at the end of the day on Monday, which is the highest in the country’s history, Bangladesh Bank General Manager AFM Asaduzzaman told UNB.

He said the rising trend of foreign exchange reserve was due to the increasing trend of export earnings as well as firm management of reserve by the central bank alongside decline in import costs.

On April 10 last, the country’s foreign exchange reserve crossed the record $20-billion mark amid good remittance inflow and export earnings.

Officials at the Bangladesh Bank said the $21 billion reserves are good enough to face any internal or external economic shocks.

According to the central bank, the last highest reserve was $20.57 billion on May 6 this year.