| Bangladesh's foreign exchange reserve hits record high |
DHAKA, Jan. 7 (Xinhua) -- Bangladesh's foreign exchange reserve hit a record high on Sunday reaching close to 4 billion U.S. dollars mainly on wage earners remittance and export earnings, local news agency UNB reported Sunday.
According to Bangladesh Bank, the central bank, the foreign exchange reserve on Sunday stood at 3.96 billion dollars.
"The reserve maintained an upward trend since long with strong remittance inflows, robust export growth and a slower growth in imports," a senior Bangladesh Bank official was quoted as saying.
The reserve was around 3 billion dollars at the end of June 1995, but started declining to plunge below 1 billion dollars in 2001. The reserve was hovering just over 3 billion dollars during the 2005-06 fiscal year (July 2005-June 2006).
"The country's external current account balance has turned into a significant surplus with robust growth in exports and remittance, reinforced by a slower growth in imports," said another official of the central bank.
"A significant surplus in current account balance as well as capital account has led to a sizeable surplus in the overall balance, improving the international reserve position," he said. กก
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