The IMF projects that consumer prices in the country will rise by 7.9 percent by the end of the fiscal year
Bangladesh’s forex reserves touch $23 billion
Bangladesh’s forex reserves have continued to rise amid a violent political tension, which has badly affected the economy.
Published : 26 Feb 2015, 11:06 AM
Updated : 26 Feb 2015, 11:42 AM
Reserves surpassed the $23 billion mark for the first time in the country’s history on Thursday.
A stable inflow of remittance and export incomes led to the record reserve, Bangladesh Bank’s Forex Reserve and Treasury Management chief Kazi Saidur Rahman told bdnews24.com .
He said that the reserve is adequate to pay import bills for the next seven months.
Forex reserves crossed $22 billion on Aug 7 last year. But it dropped soon after only to touch the mark again on Jan 28 this year.
“When all the economic sectors are being hit by the political turmoil, the news of the reserves touching $22 billion mark is a respite,” central bank Governor Atiur Rahman had told reporters then.
According to Bangladesh Bank figures, remittance inflow was $ 597.9 million in the first two weeks of February.
It touched $8.72 billion in the first seven months (Jul to Jan) of the current 2014-15 fiscal.
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