BD forex reserves cross $32-bn mark, highest in 2.5 years

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Bangladesh’s foreign exchange reserves have crossed the $32 billion mark, the highest level in two and a half years, according to the central bank.

In an official statement on Wednesday, Bangladesh Bank’s Executive Director and Spokesperson Arief Hossain said the country’s total gross reserves now stand at $32.10 billion.

As per the IMF’s Balance of Payments and International Investment Position Manual (BPM6) calculation, the country’s reserves amount to $27.35 billion.

The last time reserves reached this level was in January 2023, when they stood at $32.22 billion, Bangladesh Bank data shows.

Earlier, on October 9 this year, the central bank reported gross reserves of $31.93 billion, while the BPM6-based reserve stood at $27.12 billion.

Alongside the rise in reserves, remittance inflows have also increased notably.

According to Bangladesh Bank, $1.85 billion in remittance came in during the first 21 days of October, an 8.1% rise compared to the same period last year, when remittance stood at $1.71 billion.

From July to October 21 of the current fiscal year, Bangladesh received a total of $9.43 billion in remittances, up from $8.25 billion during the same period of the previous fiscal year, marking a 14.3% year-on-year growth in inflows. - UNB