Forex reserves climb to $25bn as Bangladesh Bank buys dollars from market

Bangladesh Bank’s buying $5 million from commercial banks in three auctions boosted the reserves, says governor

The foreign exchange reserves have increased to $25.05 billion under the IMF’s BPM6 method.

The gross reserve now stands at $30.07 billion, central bank spokesperson Arief Hossain Khan said on Wednesday.

Following the fall of the Awami League government, remittance inflow and export earnings rose, improving the dollar supply.

In July, the central bank bought $5 million from commercial banks in three phases to stabilise the dollar rate above Tk 122, injecting Tk 600 billion into the market.

Governor Ahsan H Mansur said the auctions helped raise reserves, and more dollar purchases are likely if needed.