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Bangladesh's January forex reserve reaches $31.72 billion

Staff Writer | February 21, 2017
Bangladesh's foreign exchange reserve reached $31.72 billion at the end of January, said a central bank official.
Bangladesh bank
Economy in Asia   Foreign exchange reserves
The Bangladesh Bank (BB) Forex Reserve and Treasury Management Department official who did not like to be named told Xinhua that "the country's foreign exchange reserves stood at $31,724.317 million in January after reaching $32,092.19 million on December 31, last year."

Bangladesh's foreign exchange reserves crossed the 32 billion mark first time in December last year on a steady inflow of remittances.

Earlier in August, 2015 the country's foreign reserve reached the $31 billion.

Officials said Bangladesh is in a position to pay over 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.

Bangladesh's cabinet earlier this month approved a proposal to float a sovereign wealth fund with its foreign currency reserves to pave the way for future mega infrastructure investment.