Just a week ago, reserve reductions of about 7 billion came to light in the wake of rising import costs. After that, the reserve has gone up again in just six working days. According to the updated data of Bangladesh Bank, the amount of foreign exchange reserves in the country has again crossed বিল 42 billion in a week by cutting the downward trend.
Under current import trends, the amount of foreign exchange currently available can cover at least six months’ worth of imports. However, after payments to the Asian Clearing Union (ACU) on May 9, it dropped to দশ 44.11 billion.

In this situation, Bangladesh Bank gave good news to the expatriates to bring more speed in remittance. From now on, if the remittance of more than five thousand dollars or more than 5 lakh rupees comes, the incentive will be available without any kind of paperwork. So far, there has been an obligation to submit remittance documents of more than five thousand dollars. The central bank has now taken up the issue to control the current dollar crisis.

On Monday, the Foreign Exchange Policy Department of Bangladesh Bank issued a circular with instructions in this regard. It has been said that in case of sending remittance of more than five thousand or five lakh rupees, the expatriate is obliged to send the documents from foreign exchange house to get incentive or cash assistance.

According to the government decision, cash assistance will be available at the rate of 2.5 per cent without any paperwork against sending remittances to the country. This decision will remain in force until further notice. It will be effective from today. Bangladesh Bank has instructed to simplify the process of incentive against remittances in a legal way.

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