Off the wire
• Land price surge to raise margin pressures for developers: report  • Zambian leader promises peaceful polls  • Cote d'Ivoire calls for cooperative efforts in anti-terror war  • Turkey signs deal to normalize ties with Israel  • Top news items of leading Kenyan media outlets  • China protests U.S. protectionism in steel  • Foreign exchange rates in Singapore  • Singapore stocks close 0.98 pct higher  • Reporters from Baltic nations visit Tibet, Beijing  • Vietnam's population to hit 92.7 mln in 2016: statistics  
You are here: 　 Home

Bangladesh forex reserves top 30 bln USD on Eid remittances

Xinhua, June 28, 2016 Adjust font size:

Bangladesh's foreign exchange reserves have crossed the 30-billion-U.S. dollar mark amid a boom in inflow of remittances ahead of one of the biggest Muslim religious festivals - Eid-ul-Fitr that marks the end of the Islamic holy fasting month of Ramadan.

A senior official of the Bangladesh Bank (BB) who did not like to be named told Xinhua Tuesday that "the country's foreign exchange reserves reached a record amount of 30,001.88 million U.S. dollars on Monday, reflecting the country's strength from the economical and financial point of view."

Officials reported an increase in the amount of remittances ahead of Eid-ul-Fitr, as millions of Bangladeshis living and working abroad scrimp and save during Ramadan to send more money home for relatives.

"Like previous years Eid has also come as a big boon for Bangladesh as the country has been receiving huge remittances from millions of expatriates," said the BB official.

Bangladesh's foreign exchange reserves in April this year touched the 29 billion U.S. dollars mark for the first time.

Officials said Bangladesh's current reserves were enough to pay the country's import bills for eight to nine months. Endit