Bangladesh’s foreign exchange reserves have once again exceeded the $20 billion mark, as per recent data from the central bank. The surge is attributed to robust export earnings and increased inflow of remittances during the Eid-ul-Fitr period, as reported by local news portals.
Based on calculations by the Bangladesh Bank using the International Monetary Fund’s BPM6 framework, foreign exchange reserves stood at $20.11 billion as of April 8, compared to $19.45 billion recorded on March 27. Gross reserves amounted to $25.39 billion on April 8, rising from $24.81 billion on March 27.
However, these figures reflect a decline from the foreign exchange reserves of $31.20 billion recorded during the same period last year. A recent report by The Financial Express highlighted an increase in the gross volume of forex reserves, reaching $26.17 billion as of March 5 from $25.16 billion on February 19. This uptick was attributed to the central bank’s acquisition of approximately $1.0 billion from commercial banks within a span of just seven days through currency-swap agreements.