Bangladesh’s forex reserve hits new high

DHAKA, Dec. 19 (NsNewsWire) — Foreign exchange reserve hit a new high of 18.06 billion U.S. dollars.
A Bangladesh Bank (BB) official said inflow of remittances has mainly driven Bangladesh’s foreign exchange reserve to set a new record, reflecting the country’s strength from the economical and financial point of view.
In the first five months of the current fiscal year ending next June Bangladeshis sent home 5.55 billion U.S. dollars remittances, said the official who did not like to be named.
He said exports in the first quarter of the 2013-14 fiscal year surged 17 percent to nearly 10 billion U.S. dollars.
According to the official, Bangladesh’s reserves in October this touched the 17 billion U.S. dollar mark for the first time.