In the first eight days of this month, remittances of 790 million dollars have arrived. 45 million dollars came in the same month of the previous year. In other words, in these few days of October, the remittances came more than 34 million dollars or 75.17 percent. The growth in remittances was 80 percent in the previous month of September. In this, foreign exchange reserves increased to about 19.83 billion dollars on Wednesday. It was down to $19.38 billion a month ago.
Remittances increased by 33.33 percent in the first three months of the current financial year. The growth in exports has been more than 5 percent. Imports are on the decline. As a result, the foreign exchange reserves are increasing despite the pressure of repayment of previous debts. Akur fell to $19.38 billion in the first week of last month after debt repayments.
Those concerned said that there has been no such growth in remittances in recent years. In the month of September, the remittances of 240 million dollars came through the banking channel. Compared to the same month of the previous year, which is 107 million dollars or 80.22 percent more. 654 million dollars came in the first three months. 4.9 billion dollars in the same period of the previous financial year. A sharp rise in remittances brought some relief to the dollar market. The dollar rate has remained stable at Tk 120 since the fall of the Awami League government on August 5.
Last month, Bangladesh paid 137 million dollars for July-August liabilities to the Asian Clearing Union (ACU). After this, on September 9, the reserves fell to 19.38 billion dollars. After that it has increased to this level. Reserves were $20.55 billion in the first week of last month before debt repayment. Earlier, in August 2021, the reserves rose to a maximum of over $48 billion. It decreases as a result of sales. Dr. No more dollars are being sold from the reserve after Ahsan H. Mansoor took over as governor. However, Bangladesh Bank is providing dollars from the market so that no foreign payments are hindered. Basically, this measure has been taken to retain the reserve.
Reserves rose to $19.83 billion
