Foreign exchange reserves again cross $22 billion mark

Foreign exchange reserves with the central bank have crossed $22 billion mark for the fourth time amid the political unrest, which is taking huge toll on the economy.

Chief Economics Correspondentbdnews24.com
Published : 28 Jan 2015, 06:17 PM
Updated : 28 Jan 2015, 06:17 PM

The reserves stood at $22.1 billion at the closing of Wednesday’s transactions.

Bangladesh Bank Governor Atiur Rahman attributed the rise in reserves to increased flow of remittance and export earnings.

He told bdnews24.com the reserves were equivalent to over seven months’ import bill of the country.

Rahman expressed the hope the economy would continue its advancement despite the political unrest.

“The people will continue the development trend offsetting all obstructions,” he said.

Bangladesh Bank Forex Reserves and Treasury Management Department General Manager Kazi Saidur Rahman said the reserves would be hovering over $22 billion until the first week of March when import bill would be paid to the Asian Clearing Union (ACU).

Forex reserves at the central bank first cross the $22-billion mark on Aug 7 last year. Later it dropped following the payment of import bill.

The reserves again crossed the mark on Oct 8 and Dec 15.