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Bangladesh’s foreign exchange reserves hit new record of $46 billion

Bangladesh’s foreign exchange reserves have hit a new record of $46 billion owing to the upward trend of remittance and lower import payments.

According to data from the Bangladesh Bank, the reserves stood at $46.082 billion as of June 28.

From June 1 to 28 this year, $1.75 billion remittances came to the country, which was $1.65 billion in the same period of last year.

The growth of the reserves from July 1 last year to June 28 this year went up by 36.40 per cent to $24.589 billion in compared to the same period of the previous year.

It was $18.031 billion from July 1, 2019 to June 28, 2020, the central bank data shows.

The foreign exchange reserves had earlier set a new record of $45.1 billion on May 3 this year.

Central bank officials said the reserves are increasing as the foreign exchange coming into the country is not being spent on importing goods.