Bangladesh’s foreign exchange reserves have once again surged to the $30.01 billion mark, surpassing the previous day’s figure of $29.95 billion.
This increase can be attributed to the continuous upward trend in remittance inflows ahead of the upcoming Eid-ul-Azha festival. According to data from the Bangladesh Bank, between June 1 and June 20, the country received $1.53 billion in remittances, compared to $1.10 billion during the same period last year.
In the fiscal year 2022-23, the central bank sold $13.43 billion from its reserves, primarily to support government LC payments and procure essential goods. However, the reserves experienced a decline on May 8 when the government made import bill payments of $1.1 billion to the Asian Clearing Union (ACU).
On May 10, the reserves rebounded, reaching $30.36 billion, following a previous balance of $29.78 billion. Nonetheless, as of May 25, the reserves witnessed a slight decrease to $29.96 billion.
