Decline in reserves stopped the flow of remittances: Bangladesh Bank
September 17, 20241 Min Read
Jumbangla Desk: The decline in reserves has been stopped. Currently, the amount of reserves of Bangladesh Bank stands at 2 thousand 430 million dollars. Bangladesh Bank has said that Bangladesh's foreign exchange reserves have increased due to increase in expatriate income and increase in remittance flow.

BD Bank

Bangladesh Bank Executive Director and Spokesperson Husne Ara Shikha confirmed this information on Tuesday (September 17).

He said, 'Bangladesh Bank now has 2 thousand 430 million dollars in reserves. According to International Monetary Fund (IMF) BPM-6 method, it is close to 2 trillion dollars.

Stating that reserves have increased due to increase in expatriate income, he said, the flow of remittances has increased between July and August. Expatriates are sending significant amounts of remittances, which is a major reason for the increase in reserves.

He also said, 'The banks are now able to buy and sell their own dollars as various crises have started to subside. Currently, the price of the dollar is between 118-120 rupees. The difference between the dollar price in the banking channel and the curb market is now less than 1 percent.

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Saying that the exchange rate of the dollar has been based on the market, Husne Ara Shikha said, "The foreign exchange market is expected to remain stable now due to the active inter-bank transactions."