Forex reserves cross $34 billion for the first time

The country's foreign exchange reserves crossed the $34-billion mark for the first time.

Amid coronavirus pandemic, foreign trade became slower and the aid of developing partners started to arrive, so the foreign exchange reserves piled up, a senior official of the Bangladesh Bank told The Business Standard on Wednesday night. 

According to the central bank, country's foreign exchange reserves rose to $34.23 billion on June 3. Earlier, the previous highest reserves were recorded on September 5 in 2017- the amount was $33.68 billion.  

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

From July 1, 2019 to June 2 this year, total remittance stood at $16.5billion, which was 10 percent higher than the amount of same period of the previous fiscal year.