Forex reserves over $22bn after 19 months

Higher remittance inflow is behind the swelling of dollars, a central bank official says

Bangladesh's foreign currency reserves have once again exceeded the $22 billion mark after 19 months after accumulating $1 billion over the past 13 days.

The central bank said on Wednesday, the country’s reserves stood at $22.05 billion on Apr 30, calculated under the IMF's Balance of Payments and International Investment Position Manual, known as BPM6 method.

On the same date, the gross reserve – which includes different types of funds – was recorded at $27.41 billion, Bangladesh Bank spokesperson Arief Hossain Khan said.

The last time the reserves crossed $22 billion was in September 2023.

On Apr 17, the reserves crossed $21 billion after nearly one and a half months, at $21.38 billion, with gross reserve at $26.73 billion.

A senior Bangladesh Bank official said the higher flow of inward remittance had swelled the dollar inflow, while export earnings had also been climbing.