Representational photo BigstockWith the reserve tally, it would be possible to meet the import payment of 10 monthsBangladesh's foreign exchange reserves on Tuesday crossed $42 billion for the first time amid the Covid-19 pandemic. Bangladesh Bank deputy governor Kazi Sayedur Rahman confirmed this to the Dhaka Tribune. With the reserve tally, it would be possible to meet the import payment of 10 months, he added. Remittance inflow has played a vital role behind the surge in foreign exchange reserves, said a top central bank official, adding that the government’s initiative of issuing a 2 per cent cash incentive against inward remittances had also played a vital role. More to follow...

Source: Dhaka Tribune December 15, 2020 10:41 UTC