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 Forex reserve up on higher remittance
 

Forex reserve up on higher remittance

The government earned remittance worth $1.03 billion in July this year, 20 percent higher than in the same month previous fiscal.

In July last year, the remittance earning was $857 million.

A Bangladesh Bank statement on Thursday said the total remittance earning was $11.65 billion in the last fiscal with a growth of 6.03 percent.

As the remittance increases, the bank says, the reserve has also marked a rise. Foreign currency reserve fell below $10 billion two weeks ago for meeting the import costs, but on Thursday it rose to $10.41 billion.

In the last fiscal, remittance was over $1 billion in three months — $1.103 billion in March, $1.002 billion in April and in June it was $ 1.039 billion.

Source: http://www.bangladesh.eu.com

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