Bangladesh forex reserves top $30bn

Bangladesh’s foreign exchange reserves have crossed the $30bn mark amid a boom in inflow of remittances ahead of one of the biggest Muslim religious festivals - Eid al-Fitr that marks the end of the holy month of Ramadan.A senior official of the Bangladesh Bank (BB) who did not like to be named said yesterday that the country’s foreign exchange reserves reached a record amount of $30,001.88mn on Monday, reflecting the country’s strength from the economical and financial point of view.”Officials reported an increase in the amount of remittances ahead of Eid al-Fitr, as millions of Bangladeshis living and working abroad scrimp and save during Ramadan to send more money home for relatives.“Like previous years Eid has also come as a big boon for Bangladesh as the country has been receiving huge remittances from millions of expatriates,” said the BB official.Bangladesh’s foreign exchange reserves in April this year touched the $29bn mark for the first time.Officials said Bangladesh’s current reserves were enough to pay the country’s import bills for eight to nine months.