Bangladesh’s foreign currency reserves cross $45 billion

The foreign currency reserves of Bangladesh have crossed $45 billion with inward remittances continuing to boost despite the coronavirus crisis.

The reserves at Bangladesh Bank was at an all-time high of $45.59 billion on Thursday, a nearly 30 percent rise from the amount a year ago.

With the money it will be possible to pay import costs for 11 months.

The reserves topped the $44 billion milestone on Feb 24.

In the 11 months of the outgoing fiscal year, the money sent by Bangladeshi workers abroad rose year-on-year by around 39.5 percent to $22.84 billion.

Exports increased in this period by 13.64 percent to $35.18 billion, which also helped boost the reserves.