Bangladesh forex reserves top $32 billon on remittancesStaff Writer | January 4, 2017
Bangladesh's foreign exchange reserves crossed the $32 billion mark on a steady inflow of remittances, a senior official of the Bangladesh Bank (BB) said.
Economies in Asia Forex Reserve and Treasury Management Department
The country's foreign exchange reserves stood at $31.37 billion at the end of November, said the official who declined to be named. Bangladesh's foreign exchange reserves in August last year reached the $31 billion mark for the first time.
The official said foreign exchange reserves continue to rise to hit a record level of $32 billion due mainly to steady inflow of remittances, major source of foreign currency for the country, from millions of Bangladeshis living and working abroad.
Officials said Bangladesh is in a position to pay about 10 months' import bills with the existing reserves, which are also enough to help the central bank's efforts in keeping the foreign exchange market stable. ■