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Friday, April 10, 2009

Forex reserve reaches record high

The country's foreign exchange reserve rose to a record high at US$ 6.23 billion yesterday, thanks to the global recession that helped reduce the import expenditures.

A senior central bank official said the closing balance of the forex reserve reached the level, bettering the previous record of US$ 6.18 billion on July 3 last year.

He said Bangladesh Bank purchased US dollars from the commercial banks to balance the liquidity surplus exchange market as per rules.

The greenback became surplus in the banks due to less expenditure on commodity imports like food and fuel.

The Daily Star



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