The foreign currency reserve and inflow of remittances hit the new record in the country in July despite the economic fallout triggered by the COVID-19 pandemic.
The expatriates have sent 260 crore US dollar which is an all-time high monthly amount in the country’s remittance history, according to a press release of the Finance Ministry.
In June, the country received 183 crore US dollars in remittance.
At the same time, foreign exchange reserve in the country stood at record 3 lakh 16 thousand 204 crore US dollars till July 31.
The foreign currency reserves were 3729 crore US dollars on July 30 this year while it was 1 642 crore US dollars in June of the previous year.
The increase in remittance inflow played a significant role in the unprecedented increase in foreign currency reserve.