• Sunday, Jan 23, 2022
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Forex reserves reach $33bn

  • Published at 11:53 pm June 22nd, 2017
Forex reserves reach $33bn
Bangladesh’s foreign exchange reserves hit a record high of $33bn on Thursday, according to the Bangladesh Bank data. The reserves are sufficient to meet import bills for around 10 months with an average expenditure of about $3.5bn per month. As per the international standards, a country must maintain a sufficient amount of forex reserves to cover import bills for three months. “Forex reserves are on the gradual rise thanks to the central bank’s time-befitting foreign currency reserve management policy,” said a senior Bangladesh Bank executive. The official said the fall of fuel prices on international market, steady rise of garment exports and remittance inflow from the Bangladeshi expatriates working overseas also helped the reserves rise.
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