Foreign Exchange Reserves Rise Again

Bangladesh’s foreign exchange reserves have increased to $37.25 billion. According to updated data from Bangladesh Bank, the country’s gross reserves stood at $37,245.06 million. Under the BPM6 calculation method of the International Monetary Fund (IMF), the reserves stood at $32.44 billion. Bangladesh Bank Executive Director and spokesperson Arif Hossain Khan confirmed the information on Tuesday (August 18).

Earlier, on August 13, gross reserves stood at $37.11 billion, while reserves under the BPM6 method were $32.31 billion. This means gross reserves increased by approximately $131.74 million between August 13 and 18, while reserves under the BPM6 method rose by around $129.68 million.

Meanwhile, remittance inflows to the country have continued to show strong growth. As a result, increased foreign currency supply is having a positive impact on the country’s reserves. During the first 17 days of August alone, Bangladesh received around $1.887 billion in remittances, significantly higher than during the same period of the previous year.

According to analysts, the continued growth in remittance inflows, stability in the foreign exchange market and improvement in the balance of import-export transactions are contributing to the rise in reserves. However, maintaining this positive trend will require continued efforts to increase remittance inflows while keeping foreign currency expenditures under close watch.