Forex reserves decline by $1.30 billion in July
The net reserve has decreased to $15.47 billion in the recently concluded month, according to Bangladesh Bank data published today (1 August).
US dollar banknotes are seen in this illustration taken on 10 March 2023. Photo: Reuters
“>
US dollar banknotes are seen in this illustration taken on 10 March 2023. Photo: Reuters
Bangladesh’s foreign exchange reserves have declined by $1.30 billion to $20.49 billion in July as per the International Monetary Fund’s (IMF) BPM-6 method.
The net reserve has decreased to $15.47 billion in the recently concluded month, according to Bangladesh Bank data published today (1 August).
The central bank used to publish its reserves data every week previously, but the latest data was published after a one-month interval.
The forex reserves stood at $21.79 billion at the end of June as per the BPM-6 method.
Meanwhile, Inward remittance inflow has dropped to the lowest point in 10 months at $1.91 billion in July.
Year-on-year, the remittance inflow in the country fell by 3%, Bangladesh Bank spokesperson Mezbaul Haque confirmed to The Business Standard. In July last year, remittance inflow stood at $1.97b.
According to the Central Bank, Bangladesh usually receives an average of $2 billion in remittances sent by expatriates.
